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Vehicle Import Policy Page 4 of 4 pages - [1] [2] [3] [4] << Government Policies

Section 15
The following examples based on notional values, would explain how the value of a vehicle is determined for the purpose of levy of taxes, under the above-mentioned Normal Regime.

Particulars Example-I
Transfer of Residence
Example-II
Gift Scheme OR Regular Import
Example-III
Gift scheme
Example-IV
Personal baggage
Engine capacity and make 1800 CC
European make,
Used car
1600 CC
Any make,
New Car.
1800 CC
Any make,
Used car
2200 CC
Any make,
Used Car.
FOB value as certified by the manufacturer at the time of its manufacturer US $ 1,000 US $ 1,000 US $ 1,000 US $ 1,000
Optional / additional accessories US $ 100 US $ 100 US $ 100 US $ 100
Local agent‟s commission US $ 100 US $ 100 US $ 100 US $ 100
Freight from country originally manufactured e.g. (Osaka, Japan to Karachi- Pakistan) US $ 100 US $ 100 US $ 100 US $ 100
Sub- total(C & F value) US $ 1,300 US $ 1,300 US $ 1,300 US $ 1,300
Insurance @ 1% of C & F value US $ 13 US $ 13 US $ 13 US $ 13
Sub- total (CI F value) US $ 1,313 US $ 1,313 US $ 1,313 US $ 1,313
Landing charges @1% of CI F value US $ 13 US $ 13 US $ 13 US $ 13
Other incidental charges, if any US $ 74 US $ 74 US $ 74 US $ 74
Value assessed US $ 1,400 US $ 1,400 US $ 1,400 US $ 1,400
Date of first Registration abroad 1st Feb, 2005 NA 1st Feb, 2006 20th April, 2007
Date of Entry in to Pakistan 20th July, 2007 NA 20th July, 2007 20th July, 2007
Period between first registration and entry into Pakistan 29 Months
& 20 days
NA 17 Months
& 20 days
3 months
Completed months 29 Months NA 17 Months 3 Months
Depreciation @ 1% per month 29 % NA 17 % 3 %
Admissible depreciation (Restricted to 50%) 29 % Nil 17 % 3 %
Reduction in value to the extent of admissible depreciation US $ 406
(29% of US $ 1,400)
Nil US $ 238
(17% of US $ 1,400)
US $ 42
(3% of US $ 1,400)
Depreciated value in US $ for the purpose of levy of duty US $ 994 US $ 1,400 US $ 1,162 US $ 1,358
Prevailing exchange rate US $ 1 =Rs. 85 US $ 1 =Rs. 85 US $ 1 =Rs. 85 US $ 1 =Rs. 85
Depreciated value in Pak Rupees for the purpose of levy of duly Rs. 84,490 Rs. 119,000 Rs. 98,770 Rs. 115,430

Section 16
Once the value is determined the amount of taxes payable are calculated as under:


Value determined of 1600 CC new vehicle Under gift scheme (Example II) Rs. 119,000

Custom Duty - applicable rate 75%
75% of Value determined Rs. 119,000 Rs. 89,250
Sales Tax - applicable rate 17%
17% of Value determined Rs. 119,000  
plus Custom Duty Rs. 89,250  
Total Rs. 2,08,250 Rs. 35,402
Income Tax - applicable rate 5%
5% of Value determined Rs. 119,000  
plus Custom Duty Rs. 89,250  
plus Sales Tax Rs. 35,402  
Total Rs. 243,652 Rs. 12,183
Special Federal Excise Duty - applicable rate 1%
1% of Value determined Rs. 119,000  
plus Custom Duty Rs. 89,250  
Total Rs. 208,250 Rs. 2,083
Total Taxes   Rs. 138,918

 

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