100 % Duty Removal to Lower the Prices of Imported Imported Cars Upto 1800cc

Pakistan has made a key decision to lower regulatory duties on many items, including new vehicles and mobile phones, and to abolish regulatory tariffs on imported secondhand cars up to 1,800cc. This action was taken after the government's earlier tactic of significantly taxing imports had a negative impact on businesses throughout the country but had little effect on revenue. The decision was taken when the Tariff Policy Board chairman declined to renew two Statutory Regulatory Orders (SROs) that were set to expire on March 31.

Also Read: Balloting of Nelore Heights Project Ordered by Finance Minister

As a result, consumers will be able to purchase more goods including new and used automobiles, cutting-edge mobile phones, household appliances, meat, fish, fruits, and vegetables, as well as footwear, furniture, musical instruments, dog and cat food, and ice cream. The legal requirement for secondhand vehicles However, in addition to other taxes, new cars in this category are still subject to a 15% regulatory duty. Additionally, all categories of mobile phone duty rates have been cut in half.

This decision is expected to help the 500 to 700 imported vehicles with different engine sizes that are now stranded at ports since the foreign currency is not readily available. While additional custom duties on new cars over 1,800cc have been removed, the prices of these vehicles have significantly decreased, even though new cars over 1,800cc will still have low regulatory duty rates.