Cars set to get Cheaper in Pakistan

Cars set to get Cheaper in Pakistan

Mobiles and Imported cars set to get cheaper in Pakistan, as Regulatory Duty expired on more than 600 luxury and non-essential items. The Imposition of Regulatory Duties and Additional Custom Duties (ACDs) announced the news through time-bound notifications.

Earlier, FBR’s SRO204(I)/2023, SRO205(I)/2023 and SRO206(I)/2023 also expired on March 31, 2023. Now the expiration of Regulatory duties will provide imported cars and mobiles on low rates.

Read more | Ex-military Officers Allowed to Import Tax-Free Bulletproof Vehicles

There will be no regulatory duties for used cars of up to 1800cc while rates of new cars, mobile phones and other goods will also decrease in large amount.

The rates of Regulatory Duties were applicable from August 22, 2022 to February 21, 2023. The time period was then extended on import of luxury and non-essential items by Federal Board of Revenue till March 31, 2023.

7% Additional Custom Duty

Under the extended time period, 7 % Additional Custom duties was applicable on goods falling under 30 % tariff slab. The goods falling under PCT codes and cars, light vehicles and cars exceeding 1000cc will charge with two percent of additional RD.

The Regulatory Duty on chocolates, jams, fruits, nut puree, nut pastes, edible parts of plants, sweetening matter whether or not containing sugar also increased from 10y percent to 49 percent.

The Regulatory Duty on import of water, including Natural, artificial or mineral water, sweetening matter nor flavored, ice and snow, and aerated water also increased from 30 to 49 percent.

Read more | FBR removes tax on diplomats’ imports

The FBR also imposed Regulatory Duty on import of seeds, doors, windows, jewelry boxes, heating radiators and other frames to 20%.

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