The Financial year 2023-24 started with good news for some commuters including tech and telecom consumers as the federal government has announced relief and exemptions of federal duty over these products.
The same goes for some parts of lithium batteries which are used in a wide range of electronic devices such as smartphones, laptops, appliances, and dozens of other products.
Software exporters registered with Pakistan Software Export Board will have a concession on the assessed value of the imported goods equivalent to 1% of their export proceeds of the previous financial year subject to the conditions:
(i) Pakistan Software Export Board shall certify that the imported goods are bona fide requirements for their own use of the Software exporter; and
(ii) Export proceeds shall also be certified by the Pakistan Software Export Board (Explanation: Concession equivalent to 1% of the export proceeds of the preceding Financial Year on the assessed value of the imported goods may be availed on one or multiple consignments during the financial year but cumulatively it will not exceed 1% of the export proceeds.)