CBR hints at increase in car duty
RECORDER REPORT
ISLAMABAD (May 13 2006): The Central Board of Revenue (CBR) spokesman has hinted that the duty on import of cars may be slightly increased. This information was spilled by a CBR spokesman, while contradicting a news item captioned '15-25 percent more duty cut on cars likely', published in BR on Friday.
The spokesman said that the news of downward revision of duty on import of cars was not correct. Rather, he said, import duty on cars may go up, slightly, in the next budget.
The spokesman said that no proposal for reduction in duties and taxes, leviable on the cars, was currently under consideration. However, he said, "as a result of rationalisation of duty structure, which is currently under consideration, the duties and taxes leviable on the cars might rather increase slightly."
The spokesman added that under the WTO regime, "Pakistan was not under any obligation to reduce duty and taxes on cars, and the government has not committed to any specific duty structure relating to cars for WTO regime."
Copyright Business Recorder, 2006
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