SRO. 577(I)/2005.- 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, sections 148 and 53 read with the Second Schedule to the Income Tax Ordinance, 2001 (XLIX of 2001), and sub-section (10) of section 7 of the Finance Act, 1989, and in supersession of its Notification No.S.R.O.932(I)/2004, dated the 20th November, 2004, the Federal Government is pleased to exempt old and used automotive vehicles meant for transport of persons, specified in column (2) of the Table below, falling under PCT heading No. 87.03 of the First Schedule to the Customs Act, 1969 (IV of 1969), on the imports from so much of the customs-duty, sales tax, withholding tax and capital value tax (CVT) as are in excess of the cumulative amount specified in column (3) thereof.
TABLE
S.No. Automotive vehicles meant Duty and taxes for transport of persons. US$/Pak Rs.
(1) (2) (3)1. Upto 800CC US$ 4000 (Asian makes only) 2. Upto 800CC US$ 6000 (Other than Asian makes)
3. From 801cc to 1000CC US$ 50004. From 1001cc to 1300CC US$ 100005. From 1301cc to 1500CC US$ 140006. From 1501 cc to 1600 CC US$ 170007. From 1601cc to 1800 CC US$ 21000(Asian makes only, but excluding jeeps)
2. Depreciation in the duties and taxes @ 1% per month in payable amount as per cumulative scales mentioned in the Table shall be allowed subject to a maximum of 50% as per Customs General Order No. 14 of 2005 dated 6th June, 2005. Other old and used vehicles shall be assessed as per normal procedure prescribed under the above mentioned Customs General Order.
3. This notification shall take effect from the 6th day of June, 2005.
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GOVERNMENT OF PAKISTAN
REVENUE DIVISION
CENTRAL BOARD OF REVENUE (CGO)
C.No.2(10)Tar.II/97. Islamabad the 6th June, 2005.
CUSTOMS GENERAL ORDER NO.14/2005
SUBJECT:- ASSESSMENT OF MOTOR VEHICLES.
The Central Board of Revenue is pleased to prescribe the following procedure for assessment of motor vehicles in order to ensure its uniform application at all Customs stations throughout the country:-
(i) The FOB value of a motor vehicle at the time of its manufacture, as certified by the manufacturers or their authorized local agents shall be accepted.
(ii) In case of domestic models, for which the FOB values are not provided by the manufacturers, the FOB values certified by the manufacturers or their authorized agents in case of export models of similar vehicles shall be loaded by 5% on the C&F value.
(iii) The local agent's commission and other incidental charges, if any, shall be added to the so ascertained FOB value, if not already included in the price certified by the manufacturers or their authorized local agents.
(iv) The actual amount of ocean/air fright as calculated from the country of original manufacture shall be added for the purpose of arriving at the C&F value of the imported vehicle.
(v) Actual amount of insurance in the country of manufacture or first registration shall also be added in order to arrive at the CIF value. However, in case of non-availability of insurance memo for any reason, an amount equivalent to 1% of C&F value shall be included.
(vi) Landing charges @ 1% of the sum total of CIF value shall be added to the price in order to arrive at the assessable value.
(vii) The value of optional/additional accessories shall also be included in the assessable value of the vehicle, which shall be subjected to the rate of duty and taxes applicable to the vehicle in which the accessories are fitted.
(viii) Customs duties and taxes shall be worked out on the basis of prescribed rates at the time of filing of the goods declaration (GD) except for old and used vehicles for which a cumulative amount of all leviable duties and taxes has been notified in the Gazette.
2. Depreciation in the assessable value, for the purpose of assessment shall be allowed on the import of used/second hand motor vehicles at the rate of 1% per month for vehicles upto 1800cc in case of each completed month, calculated from the date of first registration abroad upto the date of entry into Pakistan, subject to a maximum of 50%. The rate of depreciation in the case of vehicles above 1800cc shall be 2% per month, subject to a maximum of 50%.
3. This order shall take effect from 6th June, 2005, in supersession of Customs General Order No.10/2004 dated 31-08-2004.
(FAZAL YAZDANI KHAN) Secretary (Customs Tariff)
