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 an Income Tax 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 Act, 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- SRO 499(I)/201312 June 2013S.R.O 499(I)/2013 superseded S.R.O. 607(I)/2012, dated the 2nd June, 2012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 Income Tax SROs on exemptions and concessions
- SRO 1077(I)/201231 August 2012Ammendment in 2nd Schedule in Income Tax ordinance 2001.
- SRO 550(I)/201223 May 2012A new clause(24B) has been inserted in Part-II of Second Schedule of the Income Tax Ordinance 2001, to provide for reduced rates of minimum tax under sections 113 and withholding tax under section 153, in case of steel mills and steel re-rolling mills.
- SRO 549(I)/201222 May 2012A new clause is being added in lieu of which Motors Cycles dealers registered under the Sales Tax Act, 1990, will pay minimum tax under section 113 at the reduced rate of 50 % for the tax year 2011 and 75% for the year 2012 onwards.
- SRO 547(I)/201222 May 2012SRO 547(I)/2012, Exemption has been granted to withholding agents to the whole of the amount of default surcharge and penalty for non deduction of advance withholding tax or having deducted or withheld failed to deposit the withholding tax deducted or withheld
- SRO 2012SRO38318 April 2012Amendment in Second Schedule to the Income Tax Ordinance, 2001
- SRO 2012SRO648 February 2012Amendment in Second Schedule to the Income Tax Ordinance, 2001