The Federal Board of Revenue has announced a new tax exemption policy for vehicles imported specifically for use in Gwadar Port and its associated free zones.
This initiative aims to promote economic activity and facilitate businesses operating in the region.
The FBR declared that companies engaged in operations at Gwadar Port and the free zones will benefit from tax relief on their imported cars. This decision is expected to enhance operational efficiency and encourage more investment in the area which will benefit the socio-economic condtion.
To implement this policy, the FBR has prepared a draft amendment to the Customs Rules of 2001, alongside comprehensive guidelines detailing the exemptions from duties and taxes.
It is important to note that these exemptions will apply exclusively to eligible companies, ensuring that the policy effectively targets those contributing to the economic landscape of Gwadar.
The introduction of this tax exemption is a significant step towards simplifying business activities in Gwadar, a critical hub for trade and investment. As the region continues to develop, such measures are vital for attracting investment and fostering a conducive environment for business operations.
With this new policy, the FBR aims to support the growth of industries in Gwadar, paving the way for a thriving economic future.
