Duty-free equipment imports for tech zones

The Federal Board of Revenue (FBR) has notified draft rules to facilitate the import of duty-free equipment for technological zones for 10 years. The new rules were notified through a notification SRO536, which will become final in case no objection is received from any quarter in 15 days. The rules cover the registration of zones, equipment import and retention period. Under the rules, the definition of a zone means a particular type or class of zones, which may be geographical or virtual, new or existing or an expansion of a current zone, as approved and notified by the authority under the rules. As per the details, the zone licensee will apply for a user ID from the registration authority after acquiring a valid licence. Ahead of issuing the ID, the customs authorities will verify a licensee’s business facility, including manufacturing areas and stores.