Tax authorities enhance regulatory duty on energy savers by 150%
The tax authorities have enhanced the regulatory duty on energy savers by 150 per cent, a notification said.
Through an SRO 840 (I)/2021, dated June 30, 2021, the Federal Board of Revenue (FBR) issued the revised rates of the regulatory duty on 599 tariff lines. The regulatory duty is applicable from July 1, 2021.
The rate of regulatory duty on the import of energy saving lamps, tube-lights and bulbs has been increased to 5 per cent from the existing rate of 2 per cent that was imposed through an SRO 681(I)/2019, dated June 28, 2019, it said.
Interestingly, the revenue board imposed the regulatory duty on those items that are either luxury or non-essential to discourage the outflow of the foreign exchange.
However, the energy saving bulbs are important for the country, which is facing acute electricity shortage for the last several years.
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