- December 21, 2020
- Posted by: cosnultant
- Category: Uncategorized
FBR has issued updated rates of duty and tax on the import of vehicles. FBR has extended various benefits/exemptions to the taxpayers for importing vehicles, according to updated rates up to June 30, 2020.
The detailed exemptions are given as under:-
i) S.R.O. 577(I)/2005 Dated 06.06.2005 (Exemption from customs duty, sales tax, withholding tax on import of certain specified Old and used automotive vehicles):
The import of old and used automotive vehicles of Asian makes meant for transport of persons, is exempted from the amount specified in column (3)if the tax is in excess to this amount with regard to customs-duty, sales tax and withholding tax;
| Sr. No | Automotive vehicles of Asian makes meant for transport of persons. | Duty and taxes in US$ or equivalent amount in Pak rupees. |
| (1) | (2) | (3) |
| 1 | Up to 800cc | US$4800 |
| 2 | Up to 801-1000cc | US$6000 |
| 3 | From 1001 – 1300cc | US$13200 |
| 4 | From 1301 – 1500cc | US$18590 |
| 5 | From 1501 – 1600cc | US$22550 |
| 6 | From 1601 – 1800cc (Excluding Jeeps) | US$27940 |
Source:PkRevenue.com
Furthermore, FBR has fixed the duty and taxes to be levied on automotive vehicles of Asian makes meant for transport irrespective of their physical condition. The Customs officers do not have any power to increase or decrease any of these taxes specified above.
Visit ZAF Consultants and forget all your tax worries. Visit Us Now or Call Us at 051-4938342.