FBR rec­om­mends to Com­merce Min­istry to re­vise duty struc­ture on used im­ported cars

Daily Messenger - - Biz -

IS­LAM­ABAD: Fed­eral Board of Rev­enue (FBR) has rec­om­mended to the Com­merce Min­istry to re­view its re­cently an­nounced pol­icy of col­lec­tion of im­port duty on the used im­ported cars in dol­lars for the ben­e­fit of the im­porters and re­duc­ing the bot­tle­necks in this re­gard.

Sources in FBR told On­line on Thurs­day that the used cars are be­ing im­ported un­der three dif­fer­ent schemes in­clud­ing gift, bag- gage and trans­fer of res­i­dence, and the Com­merce Min­istry has in­tro­duced a new pol­icy of col­lect­ing im­port duty on th­ese used cars and equiv­a­lent duty is be­ing col­lected in US dol­lars in­stead of ru­pees. Un­der this new pol­icy, the im­porters have to man­age for­eign ex­change to pay the duty on the im­ported cars and had to show the doc­u­ments for bring­ing the re­mit­tances from abroad to pay the duty in dol­lars. On the com­plaints of some of the im­porters of th­ese cars, for lack of clear sys­tem and pro­ce­dure to bring re­mit­tances from abroad to pay the duty on the im­ported cars, the FBR which is re­spon­si­ble to col­lect the duty, has writ­ten to the Com­merce Min­istry to re­view the sys­tem and make it more friendly for the ben­e­fit of those im­porters who wanted to pay the du­ties but fac­ing dif­fi­culty due to lack of proper and ad­e­quate ar­range­ments.

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