ISLAMABAD: The federal government has reduced the additional duty on import of used vehicles.
The additional regulatory duty on import of vehicles has been reduced from 40 to 30 percent, the FBR has also issued a notification to reduce the additional regulatory duty, which will be implemented from today.
According to the notification, the regulatory duty on commercial import of used vehicles will be 30 percent, earlier the regulatory duty was 40 percent on the import of used vehicles.
According to the notification, this regulatory duty will be in addition to the already collected duty, the regulatory duty on import of vehicles will be reduced by 10 percent every year, this additional regulatory duty will be completely abolished by 2029-30.
It should be noted that the federal government has allowed the commercial import of used vehicles. The import was permitted through the necessary amendments required in the Import Policy Order 2022. However, the import permission is conditional on strict compliance with environmental and safety standards.
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