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Imported, locally manufactured agriculture machinery, equipment: FBR imposes 16 percent sales tax.
Byline: RECORDER REPORT
The Federal Board of Revenue (FBR) has imposed 16 per cent sales tax on the import of agricultural machinery, equipment and implements and supply of locally manufactured agricultural machinery, equipment and implements, as specified in the rescinded S.R.O. 542(I)/2006.
In this regard, the FBR has rescinded S.R.O. 542(I)/2006 through S.R.O. 480 (I)/2011 of June 3, 2011. The sales tax exemption has been withdrawn on the import and local supply of all kinds of agricultural machinery and equipment mentioned in the rescinded S.R.O. 542(I)/2006.
According to the S.R.O. 480 (I)/2011, sales tax would be charged on the tillage and seed bed …
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