The government has withdrawn exemption of customs duty, sales tax and withholding tax on import of old and used vehicles including cars and jeeps (800cc to 1800cc) of non-Asian makes ie, European, USA, etc. Through SRO (I)/2010, issued on Friday.
The Federal Board of Revenue (FBR) has restricted import of old and used vehicles to the Asian make models for availing exemption of customs duty, sales tax and withholding tax in excess of the cumulative amount specified in US dollars under SRO.577(I)/2005. Sources told Business Recorder that non-Asian makes would be liable to pay statutory rate of customs duty as specified in Pakistan Customs Tariff (PCT).
The reduced rate of duty in US dollars would not be applicable on import of old and used vehicles of non-Asian makes. It would cover all non-Asian countries like Europe and USA. The old and used cars, pickups and jeeps etc having engine capacity of 800cc to 1800cc would be liable to concessionary rate of duties and taxes as specified in the amended SRO.577(I)/2005 for Asian makes, like Japanese, Chinese cars, etc.
Under the amended notification, duties and taxes on import of old and used automotive vehicles (up to 800cc) of Asian makes meant for transport of persons would be $4400, up to 801cc to 1000cc US $5500, from 1001cc to 1300 cc US $11000, from 1301cc to 1500 cc US $15400 from 1501cc to 1600 cc US $18700 and duties/taxes on the import of old and used automotive vehicle from 1600cc to 1800cc from asian makes would be US $23100.
The Federal Board of Revenue (FBR) has restricted import of old and used vehicles to the Asian make models for availing exemption of customs duty, sales tax and withholding tax in excess of the cumulative amount specified in US dollars under SRO.577(I)/2005. Sources told Business Recorder that non-Asian makes would be liable to pay statutory rate of customs duty as specified in Pakistan Customs Tariff (PCT).
The reduced rate of duty in US dollars would not be applicable on import of old and used vehicles of non-Asian makes. It would cover all non-Asian countries like Europe and USA. The old and used cars, pickups and jeeps etc having engine capacity of 800cc to 1800cc would be liable to concessionary rate of duties and taxes as specified in the amended SRO.577(I)/2005 for Asian makes, like Japanese, Chinese cars, etc.
Under the amended notification, duties and taxes on import of old and used automotive vehicles (up to 800cc) of Asian makes meant for transport of persons would be $4400, up to 801cc to 1000cc US $5500, from 1001cc to 1300 cc US $11000, from 1301cc to 1500 cc US $15400 from 1501cc to 1600 cc US $18700 and duties/taxes on the import of old and used automotive vehicle from 1600cc to 1800cc from asian makes would be US $23100.