Floating Regasification Storage unit is now allowed exemption of Customs Duty in excess of 5% with whole of Sales Tax Import.
SRO 337(I)/2015Exemptions and concessions
SRO 337(I)/2015 is a Customs SRO dated 22 April 2015, listed by FBR as "Floating Regasification Storage unit is now allowed exemption of Customs Duty in excess of 5% with whole of Sales Tax Import.".
The text below was extracted automatically from the text layer of the official PDF. Line breaks and table layout may differ from the original, and where FBR scanned the paper and added a machine-read text layer, that layer can contain misread characters. Check the official PDF before relying on any wording or figure.
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GOVERNMENT OF PAKISTAN
MINISTRY OF FINANCE, REVENUE AND ECONOMIC AFFAIRS
(REVENUE DIVISION)
***
Islamabad, the 22nd April, 2015.
NOTIFICATION
(CUSTOMS/SALES TAX)
S.R.O. 337(I)/2015. - In exercise of the powers conferred by section 19 of the
Customs Act, 1969 (IV of 1969), and clause (a) of sub-section (2) of section 3 of the Sales Tax
Act, 1990, the Federal Government is pleased to direct that the following further amendments
shall be made in its Notification No. S.R.O. 678(I)/2004, dated the 7th August, 2004, namely:-
In the aforesaid Notification,-
(a) in clause (2a), after the word “equipment”, the words “including Floating
Storage and Regasification Unit” shall be inserted; and
(b) after clause (2a), the following Explanation shall be added, namely:-
“Explanation.- For the purposes of this clause, Floating Storage and
Regasification Unit shall be deemed to be considered as
plant, machinery and equipment of a Floating LNG
Terminal;”
[C.No. 1/7/Mach./94-Pt.A]
(NISAR MUHAMMAD)
ADDITIONAL SECRETARY
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