KARACHI: The Federal Board of Revenue (FBR) has granted sales/income tax exemption to the 35 armoured and security vehicles imported by Ministry of Foreign Affairs.
The FBR, exercising the powers conferred upon it by sub-section (2) of section 53 of the Income Tax Ordinance, 2001 (XLIX of 2001) and pursuant to the approval of the Economic Coordination Committee of the Cabinet contained vide case No.ECC-113/18/2016, dated the 7th September, 2016, has said that the provisions of section 148 of the Income Tax Ordinance, 2001 will not apply on import of 35 armoured and security vehicles imported by or for the said ministry meant for security of visiting foreign dignitaries.
The vehicles imported under above mentioned clause will only be used for the security purpose of foreign dignitaries and will be parked in Central Pool of Cars (CPC) in the Cabinet Division for further use as and when needed, the notification said, adding that the ministry at the time of import will furnish an undertaking to the Customs Collector concerned to the extent of customs-dues exempted under this clause on consignment to consignment basis binding themselves that the vehicles imported under this clause will not be re-exported, sold or otherwise disposed of without prior approval of the Board.
