FBR imposes up to 60% duty on import of luxury vehicles

ISLAMABAD: Federal Board of Revenue (FBR) has imposed up to 60 percent regulatory duty on import of luxury vehicles.

The FBR issued two different SROs on Wednesday to update the implementation of regulatory duty that was announced in the budget on May 26, 2017. The FBR notified regulatory duty on ad valorem basis imposed on about 508 items in order to improve revenue collection and discourage import of non-essential and luxury items.

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The latest SRO has amended the SRO 482(I)/2009 dated June 13, 2009.

The regulatory duty imposed on vehicles are included:

— New sport utility vehicles 1801 cc to 3000 cc (except electricity hybrids): 50 percent

— Old and used sport utility vehicles 1801 cc to 3000 cc (except electricity hybrids): 60 percent

— New cars and Jeeps 1801 to 3000 cc (except electric hybrids): 50 percent

— Old and used cars and jeeps 1801 cc to 3000 cc (except electric hybrids): 60 percent

— New cars and jeeps above 3000 cc (except electric hybrids): 50 percent

— Old and used cars and jeeps above 3000 cc (except electric hybrids): 60 percent

— New sport utility vehicles above 2000 cc (except electric hybrids): 50 percent

— Old and used sport utility vehicles above 2000 cc (except electric hybrids): 60 percent

— New all terrain vehicles (CBU) (except electric hybrids) 50 percent

— Old and used all terrain vehicles (CBU) (except electric hybrids): 60 percent

— New cars and jeeps above 2000 cc (except electric hybrids): 50 percent

— Old and used cars and jeeps above 2000 cc (except electric hybrids): 60 percent

— New cars and used cars and jeeps above 2000 cc (except electric hybrids): 50 percent

— Old and used cars and jeeps above 2500 cc (except electric hybrids): 60 percent