35 armoured vehicles exempted from duty

35-armoured-vehicles-exempted-from-duty

35 armoured vehicles exempted from duty ISLAMABAD: The Federal Board of Revenue (FBR) notified on Monday the exemption of duty and taxes on the import of 35 armoured vehicles for the Ministry of Foreign Affairs.

Two notifications were issued to implement the decision of the Economic Coordi­nation Committee (ECC) of the Cabinet, stating that the imported bulletproof cars will be used for the security of visiting dignitaries. A sales tax and federal excise notification (SRO898 of 2016) exempted the sales tax and excise duty on the import of these cars.

According to the notification, the vehicles will only be used for the stated purpose and will be parked in the central pool of cars in the cabinet division.

The ministry will also submit an understating that the vehicles will not be re-exported or otherwise disposed of without the FBR’s prior approval.

To exempt income tax at the import stage, a separate notification (SRO899 of 2016) was issued to amend the second schedule of the Income Tax Ordinance 2001.

Source: http://www.dawn.com/news/1286322/35-armoured-vehicles-exempted-from-duty

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