Incentive Data

Obsolete/old machines can be sold in domestic market of Pakistan.

Rule 26 (4)

 

The exemption granted under Board’s Notification No. SRO 881(I)/80, dated the 23rd August, 1980 shall, be applicable to machinery, equipment, materials to be used solely within the limits of a Zone and goods imported into the Zone for warehousing purposes: 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

(1)

(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%;

 

Source: *{S.R.O. 450(I)/2001 dated 18.06.2001, [Rule 226 (4)]}