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The Pakistan Gift Scheme Policy allows Pakistani nationals living abroad to gift a vehicle to their family members in Pakistan. The vehicle must be less than three years old from the date of manufacture and must be imported under the Pakistan Gift Scheme Policy. The following are the requirements for importing a vehicle under the Gift Scheme:
- The vehicle must be gifted to a family member who is a Pakistani national and is normally resident in Pakistan.
- The vehicle must be less than three years old from the date of manufacture.
- The vehicle must be imported under the Gift Scheme.
The following are the steps involved in importing a vehicle under the Pakistan Gift Scheme Policy:
- The donor must obtain a No Objection Certificate (NOC) from the Pakistani Embassy or Consulate in the country where they are residing.
- The donor must obtain a valuation certificate from a registered valuer in the country where they are residing.
- The donor must ship the vehicle to Pakistan.
- The recipient must clear the vehicle from customs and pay the applicable duties and taxes.
The following are the duties and taxes that are payable on the import of a vehicle under the Gift Scheme:
- Customs duty: 25%
- Sales tax: 15%
- Federal Excise Duty (FED): 10%
- Registration fee: Rs. 20,000
The total cost of importing a vehicle under the Gift Scheme will vary depending on the make, model, and year of manufacture of the vehicle.
Here are some additional things to keep in mind when importing a vehicle under the Pakistan Gift Scheme Policy:
- The vehicle must be registered in the name of the recipient within 30 days of its arrival in Pakistan.
- The vehicle must be insured for a minimum of one year.
- The vehicle must be roadworthy and must meet all applicable safety standards.
If you are considering importing a vehicle under the Gift Scheme, it is important to consult with a customs broker to ensure that you are aware of all of the requirements and to get an estimate of the total cost.
“This article was written by Bard, a large language model from Google AI.”