KARACHI: The Federal government has decided to reduce customs-duty and tax on the import of used vehicles in the budget for the next fiscal year.
Sources told Customs Today that the government has decided to decrease 5 percent tax on imported vehicles and the matter of extend the age of vehicles is also under process. The officials informed that the government will take a decision about age of vehicles before finalizing the budget.
As per details, officials told that federal government has decided to reduce 5 percent tax on 800cc and 1800cc used vehicles. The matter of increasing the age of vehicles from 3 to 4-5 years is under process. Officials assure that the FBR will earn more than Rs 20 billion after passing the both references in budget.
