ISLAMABAD: The Government of Pakistan has increased the regulatory duty levied on completely-built-up (CBU) vehicles for the upcoming fiscal year through S.R.O. 966(l)/2022. The increase in custom duties may be an attempt to improve the current account position whilst also generating additional revenue through customs given the success in 2021/22. Furthermore, this hints that the government is providing some relief to Pakistani automotive importers by overturning the ban on CBUs.
Notable increases in some vehicle categories are as follows:
A “new vehicle” means a vehicle manufactured during 12 months preceding the date of importation and neither registered nor used more than 500 kilometers prior to importation.
