No #12

The Financial Daily - - ECON­OMY & CON­TIN­U­A­TION -

de­cided to en­hance the max­i­mum limit of the de­pre­ci­a­tion to 60 per cent on the im­port of cars. In or­der to im­ple­ment the FCC's de­ci­sion, the Rev­enue Divi­sion, Fed­eral Board of Rev­enue is­sued Customs No­ti­fi­ca­tion No SRO 275(1)/2011 dated 26th June, 2011 amend­ing the par­ent no­ti­fi­ca­tion No SRO 577(1)/2005 dated 6th June, 2005. Customs Gen­eral Or­der No 02/2011 dated 26th June, 2011 has also been is­sued to mod­ify Customs Gen­eral Or­der No 14/2005, dated 6th June, 2005.

Ac­cord­ingly, the max­i­mum limit of the de­pre­ci­a­tion has been en­hanced to 60 per cent from ex­ist­ing 50 per cent on the im­port of old, used and sec­ond hand cars. -Agen­cies

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