Amendment in SRO.577(I)/2006 date 05.06.2006

GOVERNMENT OF PAKISTAN MINISTRY OF FINANCE, ECONOMIC AFFAIRS, STATISTICS AND REVENUE (REVENUE DIVISION) ***** Islamabad, the 25th April, 2007. NOTIFICATION (CUSTOMS) S.R.O 342.(I)2007.- In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), clause (a) of sub-section (2) of section 13 of the Sales Tax Act, 1990 and sections 53 and 148 of the Income Tax Ordinance,2001(XLIX of 2001), read with the Second Schedule thereof, sub-section (10) of section 7 of the Finance Act, 1989, the Federal Government is pleased to direct that the following amendments shall be made in its Notification No. S.R.O. 577(I)/2006, dated the 5th June, 2006, namely :- In the aforesaid Notification, in the preamble, in clause (b), for the full stop, at the end, a colon shall be substituted and thereafter the following provision shall be added, namely:- “Provided that in case of used vehicles following rates of duty and other taxes shall be applicable, namely:- (i)Vehicles 5 years old at the time 50% reduction in duty and other taxes worked of import out according to the following Schedule (ii)Vehicles over 10 years old at 75% reduction in duty and other taxes worked the time of import. out according to the following Schedule.” [C.No.5(1)/92.Cus.Exm(Pt)] (Musarrat Jabeen) Additional Secretary