SRO 567(I)/2014: Govt exempts 50pc duty, taxes on import of Hybrid Electric Vehicles

ISLAMABAD: Federal Government is pleased to exempt customs duty, sales tax and withholding tax on import of Hybrid Electric Vehicles (HEVs) falling under PCT Code 87.03, up to 50 percent. FBR has issued an SRO S.R.O. 567(I)/2014 in this regard to make changes in its Notification No. S.R.O. 499(I)/2013, dated 12th June, 2013.

In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), clause (a) of sub-section (2) of section 13 of the Sales Tax Act, 1990 and sections 53 and 148 of the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Government is pleased to direct that the following amendment shall be made in its Notification No. S.R.O. 499(I)/2013, dated 12^th June, 2013, namely:-

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In the aforesaid Notification, the following shall be substituted, namely,-

At least 50% customs duty and taxes are exempted on import of Hybrid Electric Vehicles (HEVs) up to 1800 CC while 25% exceeding 1800 CC.