ASA PAKISTAN
C/P From as below link.
http://cbr.gov.pk/newcu/sros/2007/2007sro342.pdf
GOVERNMENT OF PAKISTAN
MINISTRY OF FINANCE, ECONOMIC AFFAIRS, STATISTICS AND REVENUE
(REVENUE DIVISION)
Islamabad, the 25th April, 2007.
NOTIFICATION
(CUSTOMS)
S.R.O 342.(I)2007.- 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), read with the Second Schedule thereof, sub-section (10) of section 7 of the Finance Act, 1989, the Federal Government is pleased to direct that the following amendments shall be made in its Notification No. S.R.O. 577(I)/2006, dated the 5th June, 2006, namely :-
In the aforesaid Notification, in the preamble, in clause (b), for the full stop, at the end, a colon shall be substituted and thereafter the following provision shall be added, namely:-
“Provided that in case of used vehicles following rates of duty and other taxes shall be applicable, namely:-
(i)Vehicles 5 years old at the time of import
50% reduction in duty and other taxes worked out according to the following Schedule
(ii)Vehicles over 10 years old at the time of import.
75% reduction in duty and other taxes worked out according to the following Schedule.”
[C.No.5(1)/92.Cus.Exm(Pt)]
(Musarrat Jabeen)
Additional Secretary