The Federal Board of Revenue has imposed a new set of taxes on imported vehicles. The taxes have increased under Statutory Regulatory Order (SRO) 504(I)/2017.

This means that there will be a surge of up to 60% in ad valorem regulatory duty on old and new imported cars, including SUVs and Jeeps.

VeryFilmi

New Percentage Rates

Here are the new percentage rates on each car;

  • (PCT Code – 8703.2323) New SUVs with engine capacity between 1801cc-3000cc – 50% duty
  • (PCT Code – 8703.2323) Used SUVs with engine capacity between 1801cc-3000cc – 60% duty
  • (PCT Code – 8703.2329) New cars and jeeps with engine capacity between 1801cc-3000cc – 50% duty
  • (PCT Code – 8703.2329) Used cars and jeeps with engine capacity between 1801cc-3000cc – 60% duty
  • (PCT Code – 8703.2490) New cars and jeeps with engine capacity over 3000cc – 50% duty
  • (PCT Code – 8703.2490) Used cars and jeeps with engine capacity over 3000cc – 60% duty
  • (PCT Code – 8703.3223) New SUVs with engine capacity over 2000cc – 50% duty
  • (PCT Code – 8703.3223) Used SUVs with engine capacity over 2000cc – 60% duty
  • (PCT Code – 8703.3225) New All Terrain Vehicles (SBU) – 50% duty
  • (PCT Code – 8703.3225) Used All Terrain Vehicles (SBU) – 50% duty
  • (PCT Code – 8703.3229) New cars and jeeps with engine capacity over 2000cc – 50% duty
  • (PCT Code – 8703.3229) Used cars and jeeps with engine capacity over 2000cc – 60% duty
  • (PCT Code – 8703.3390) New cars and jeeps with engine capacity over 2500cc – 50% duty
  • (PCT Code – 8703.3390) Used cars and jeeps with engine capacity over 2500cc – 60% duty
  • (PCT Code – 8703.9090) Other types of new vehicles – 50% duty
  • (PCT Code – 8703.9090) Other types of used vehicles – 60% duty

*Note: The above listed regulatory duties are not applicable on electric hybrid vehicles.

The reason behind the increase in tax is to improve revenue generation. What are your thoughts about this?

Stay tuned to Brandsynario for more news and updates.