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Vehicle import in Pakistan is governed by the Import Policy Order (IPO) and the Customs Act, 1969. Both new and used vehicles can be imported, but the requirements and taxes vary depending on the type of vehicle and its age.
New Vehicle Import In The Pakistan can be imported freely by anyone, but they are subject to customs duty, sales tax, and federal excise duty. The amount of duty and taxes payable depends on the engine capacity of the vehicle.Vehicle Import In The Pakistan For example, a new car with an engine capacity of up to 1,800cc is subject to a customs duty of 25%, a sales tax of 17%, and a federal excise duty of 12.5%.
Used Vehicle Import In The Pakistan under three schemes:
- Personal baggage: Pakistani nationals residing abroad can import one used vehicle as personal baggage. The vehicle must be less than five years old and must have been owned by the importer for at least one year.
- Gift scheme: Foreign nationals can gift a used vehicle to a Pakistani national. The vehicle must be less than five years old and must have been owned by the donor for at least one year.
- Transfer of residence: Pakistani nationals who are transferring their residence to Pakistan can import one used vehicle. The vehicle must be less than five years old and must have been owned by the importer for at least one year.
The taxes payable on used vehicles imported under these schemes are the same as those payable on new vehicles. However, there is a depreciation allowance that is applied to the amount of customs duty payable. The depreciation allowance is calculated at the rate of 1% per month for the first five years of the vehicle’s age.
In addition to customs duty, sales tax, and federal excise duty, there are also a number of other taxes and fees that may be payable on imported vehicles. These include registration fee, road tax, and insurance premium.
The total cost of Vehicle Import In The Pakistan can be significant. However, there are a number of factors that can affect the cost, such as the type of vehicle, its age, its engine capacity, and the current market conditions.
Here are some of the places where you can Vehicle Import In The Pakistan:
- MYWHEELS IMPORT
- MYK Auto Trader Lahore Office
- Ws Imports
“This article was written by Bard, a large language model from Google AI.”