Small cars manufacturing equipment’s customs duty reduced

ISLAMABAD: The government has reduced the duty imposed on the import of equipment for the manufacture of small cars, revenue division has issued a notification in this regard.

Customs duty on the import of equipment for manufacturing 1000cc new model cars has been reduced by 15 percent while it has been reduced by 16 percent from the previous 25 percent, according to the notification.

Customs duty on the import of equipment for manufacturing 1000cc old model cars has been brought down to 30 percent from 32.5 percent.

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The reduction in the rate of customs duty has been approved for new model vehicles certified under the engineering development board for three years, according to the notification issued from the revenue division.