Exemption from Customs duty/sales tax/Income Tax on import of Hybrid Electric Vehicles (HEV)
SRO 607(I)/2012Exemptions and concessions
SRO 607(I)/2012 is a Customs SRO dated 2 June 2012, listed by FBR as "Exemption from Customs duty/sales tax/Income Tax on import of Hybrid Electric Vehicles (HEV)".
The text below was extracted automatically from the text layer of the official PDF. Line breaks and table layout may differ from the original, and where FBR scanned the paper and added a machine-read text layer, that layer can contain misread characters. Check the official PDF before relying on any wording or figure.
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GOVERNMENT OF PAKISTAN
MINISTRY OF FINANCE, ECONOMIC AFFAIRS, STATISTICS & REVENUE
(REVENUE DIVISION)
Islamabad, the 2nd June, 2012
NOTIFICATION
(Customs, Sales Tax and Income Tax)
S.R.O. 607(I)/2012.- 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 Ac t, 1990 and sections 53 and 148 of the Income Tax Ordinance, 2001 (XLIX of
2001), the Federal Government is pleased to exempt Hybrid Electric Vehicles (HEV)
falling under PCT Code 87.03, on import from so much of the customs duty, sales tax
and withholding tax, as are in excess of 75% of the applicable rates thereof.
2. Depreciation in the duties and taxes, in case of old and used HEVs, shall be
admissible at the rate of 2% per month subject to a maximum of 60%.
______________________________________________________________________
[C.No.1(3)Tar-III/2012 ]
(Mumtaz Haider Rizvi)
Secretary
Which later SROs refer to this one?
SROs whose FBR title names SRO 607(I)/2012, usually to amend or rescind it.
- SRO 499(I)/201312 June 2013S.R.O 499(I)/2013 superseded S.R.O. 607(I)/2012, dated the 2nd June, 2012
Related Customs SROs on exemptions and concessions
- SRO 222(I)/201315 March 2013Amendment in S.R.O 575(I)/2006 for concessionary import for Thar Coal Field.
- SRO 522(I)/201221 May 2012Extension in warehousing period and waiver of panel surcharge on overstayed warehoused goods
- SRO 667(I)/201129 June 2011Amnesty SRO-646(I)/2011 amended
- SRO 664(I)/201129 June 2011Amnesty SRO-646(I)/2011 Amended
- SRO 646(I)/201125 June 2011Federal Government is pleased to remit whole amount of penalties and surcharge under section 202A.
- SRO 595/201110 June 2011FBR Extends Warehousing Period and Waiver off Penal Surcharge on overstayed Warehoused goods.