The Economic Coordination Committee (ECC) has announced a relief package of Rs 90 billion for auto importers and exporters. This relief package includes permission to import vintage cars and duty-free import of cars which are up to 1,600cc.
The Federal Board of Revenue (FBR) had given a green single to an exemption of taxes on the imports of 50-year-old vintage cars and jeeps that are in excess of $5,000 per unit.
According to the details, the FBR had issued an S.R.O. 833(1)/2018, which says that classic and vintage cars and jeeps have been exempted from all kinds of taxes in Pakistan. The above-mentioned cars won’t be charged any the taxes listed below;
- Customs duty
- Additional customs duty
- Withholding tax
- Sales tax
- Regulatory duty
- Federal excise duty