The Federal Board of Revenue on Saturday amended procedure for the legalisation of non-duty paid smuggled vehicles under the amnesty scheme. In this regard, the FBR has issued an SRO.185(I)/2013 here on Saturday amending the SRO. 172(I)/2013. When contacted, sources said an ambiguity has been removed in the SRO. 172(I)/2013 through issuance of SRO.185(I)/2013.
There is no change regarding calculation of duty or deprecation, etc, but a small ambiguity has been removed from the SRO. 172(I)/2013. The clearance of non-duty paid smuggled vehicles from Customs Department would start from Sunday (today). The clarification has also been communicated to the field formations for speedy clearance of non-duty paid smuggled vehicles.
Responding to a query, they dispelled impression that court has granted any stay order against the implementation of the SRO172(I)/2013. Sources added that the Board has received certain queries raised by the Collectorates with regard to the implementation of recently issued SRO 172(1)/2013 dated 5.3.2013 that provides the release of smuggled or non-duty paid vehicles having non tampered chassis or engine numbers on payment of duty/taxes and redemption line at prescribed rates. The Board has examined these queries and guidelines thereon are being issued to address the lack of clarity identified and to maintain uniformity in implementation of the scheme by field formations.
As regards to the assessment of duty/taxes applicable on vehicles of different model or engine capacity under the aforementioned SRO, a link has been made available at FBR''s website www.fbr.gov.pk. The amounts of approximate duty/taxes leviable on vehicles are illustrated in the reference folder which may be consulted while making assessments so as to maintain uniformity. These duty and taxes are not final and just provide for guidance to ascertain actual duty/taxes in adherence to the provisions of the said SRO, the officials added.
According to the amended SRO, for the vehicles covered under SRO. 577(I)/2005 dated 6th June, 2005 above five years of age, further reduction in the duty and taxes assessed at the end of five years shall be allowed at the rate of five percent per year for subsequent years, subject to the minimum total amount of duty and taxes equal to $500 (or equivalent amount in Pak rupees).
For all other vehicles above six years of age, further reduction in the duty and taxes assessed at the end of fix years shall be allowed at the rate of five percent per year for subsequent years subject to the minimum total amount of duty and taxes equal to Rs 100,000.
Following is the text of the SRO. 185(I)/2013 issued on Saturday: In exercise of powers conferred by sections 19 and 181 of the Customs Act, 1969 (IV of 1969), clause (a) of sub-section (2) of section 13 of the Sales Tax Act, 1990 and sub-section (1) of section 53 and section 148 read with the Second Schedule to the Income Tax Ordinance, 2001 (XLIX of 2001), and in exception to clause (a) of Notification No SRO.499(I)/2009, dated the 13th June, 2009 the Federal Government is pleased to direct that following amendment shall be made in its Notification No SRO. 172(I)/2013 dated 5th March, 2012, namely:
In the aforesaid notification, for sub-paragraphs (iii) and (iv) the following shall be substituted, namely: For the vehicles covered under Notification No SRO. 577(I)/2005 dated 6th June, 2005 above five years of age, further reduction in the duty and taxes assessed at the end of five years shall be allowed at the rate of five percent per year for subsequent years, subject to the minimum total amount of duty and taxes equal to five hundred US dollars (or equivalent amount in Pak rupees); and For all other vehicles above six years of age, further reduction in the duty and taxes assessed at the end of fix years will be allowed at the rate of five percent per year for subsequent years subject to the minimum total amount of duty and taxes equal to Rs 100,000.
Comments
Comments are closed.