Pakistan Plans to Impose 19% Consumption Tax on Certain Imported Raw Materials

According to Pakistan's Commercial Record Newspaper on December 4, 2011, Federal Board of Revenue of Pakistan (FBR) plans to issue a new special taxation decree, imposing consumption tax of 19% on certain imported raw materials of five departments (textile, leather, carpet, medical equipment, and sports equipment) enjoying zero-tariff treatment, including general consumption tax of 16% and value-added consumption tax of 3%.