Islamabad (Lord Media): The National Assembly’s Finance Committee has approved proposals to impose 30 to 40 percent customs duty and 86 to 92 percent special excise duty on imported hybrid, electric, and luxury vehicles. The meeting extensively discussed taxes on imported vehicles and the new auto policy.<\/p>\n
During the meeting, Minister of State for Finance Bilal Azhar Kayani informed that the current auto policy will expire on June 30. The Secretary of Commerce briefed the committee that duties on 1800cc vehicles are proposed to be brought down to 74 percent, while reducing duties on vehicles between 1500 to 1800cc is also under consideration.<\/p>\n
FBR officials stated that electric vehicles valued up to 75,000 U.S. dollars will not incur federal excise duty, and electric vehicles worth less than 20 million rupees will also be exempt from FED. Committee member Shahida Akhtar raised concerns over the lack of charging stations.<\/p>\n
Sharmila Faruqi opposed the new taxes on electric vehicles, while Bilal Azhar Kayani clarified that no special excise duty is being imposed on vehicles up to 1800cc in the new auto policy.<\/p>\n
FBR officials further revealed proposals to impose 86 percent special excise duty on imported vehicles between 2000 to 3000cc, and 92 percent on those over 3000cc. The committee also approved an extension of a one-year concession of one percent sales tax on imported parts for electric vehicles.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan’s Finance Committee approves higher duties on imported hybrid, electric, and luxury vehicles, impacting auto policy and tax structure.<\/p>\n","protected":false},"author":1,"featured_media":75617,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[326],"tags":[1458,292,534,1459,221,358],"ppma_author":[94],"class_list":["post-75616","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-stories","tag-auto-policy","tag-economy","tag-finance","tag-imported-cars","tag-pakistan","tag-taxation"],"yoast_head":"\n