The Federal Board of Revenue (FBR) said on Wednesday that for the purpose of assessment of motor vehicles, the age of used/second hand motor vehicles imported under Personal Baggage, Gift and Transfer of Residence schemes is to be determined from the January 1 of the year subsequent to the year of manufacture till the date of shipment as per Bill of lading instead of the date of first registration abroad.
In this regard, the FBR here on Wednesday clarified the amendment made in Customs General Order No 14/2005 dated 6th June, 2005 through an order issued few days back.