S.R.O. 805(I)/2019, Islamabad, the 11th July, 2019

Amendments in the Customs Rules, 2001 GOVERNMENT OF PAKISTAN (REVENUE DIVISION) FEDERAL BOARD OF REVENUE **** Islamabad, the 11th July, 2019 NOTIFICATION (Customs) S.R.O. 805(I)/2019.- The following draft of amendments, which the Federal Board of Revenue proposes to make in the Customs Rules, 2001, in exercise of the powers conferred by section 219 of the Customs Act, 1969 (IV of 1969), section 50 of the Sales Tax Act, 1990, section 40 of the Federal Excise Act, 2005 and section 237 of the Income Tax Ordinance, 2001 (XLIX of 2001), is hereby published for information of all persons likely to be affected thereby and, as required under sub-section 3(A) of section 219 of the Customs Act, 1969 (IV of 1969), notice is hereby given that objections or suggestions thereon, if any, may for consideration of the Board be sent within seven days of publication of the draft amendments in the official Gazette. Any objections or suggestions which may be received from any person, before the expiry of the aforesaid period, shall be taken into consideration by the Federal Board of Revenue, namely:- DRAFT AMENDMENTS In the aforesaid Rules,- (1) in rule 226,- (i) in sub-rule (4), for the proviso the following provisos shall be substituted, namely:- "Provided that the investors in Export Processing Zone shall retain machinery for a period of five years from the date of its import into the Zone: Provided further that the investors in Export Processing Zone shall be allowed to dispose of machinery in the tariff area after filing Goods Declaration subject to the fulfillment of conditions of Import Policy Order upon payment of duty and taxes on the following terms, namely :- "Sr No Disposal period Duty and taxes (i) (2) (3) 1 If sold or otherwise disposed of before the expiration of three years from the date of import in EPZ. Full 2 If sold or otherwise disposed of after three and before four years from the date of import in EPZ 75% 3 If sold or otherwise disposed of after four and before five years from the date of import in EPZ 50% 4 If sold or otherwise disposed of after five years from the date of import in EPZ 0%'; "; and (ii) in sub-rule (9), in the proviso, for the full stop at…