Govt Sets Maximum Custom Duties On Imported Cars

For imports of brand-new sport utility vehicles and off-road vehicles in CBU fiscal year 2022, the coalition government headed by Prime Minister Shehbaz Sharif maintained a maximum customs tariff rate of 90%.

This publication, which contains a comprehensive list of products and custom duty rates, was published by the Federal Board of Revenue. The number of commodities has climbed from 599 to 611, and the customs taxes vary from 2 percent to 90 percent, according to this list.

SUVs and crossovers are subject to 90 percent customs duties, which is the highest rate.
In Fiscal Year 2023, imported used and outdated crossovers or off-road vehicles with engines between 1801cc and 3000cc would be subject to the second-highest custom duty slab of 70%. These two rates have been the same since the fiscal year 2022.

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TAX ON CARS’ REGISTRATION, TRANSFER DOUBLED

Cars are subject to the two highest slabs of customs duty, increasing the cost of the vehicle industry as a whole. It has gotten more challenging to own a car, whether it is locally made or imported, as auto prices have increased locally as well.

Liquids from fruits or nuts, such as grape must and coconut water, as well as unfermented vegetable juices devoid of alcohol, sugar, or other sweeteners, were also included on the list. You can import these things by paying a 60 percent customs tax. Potatoes, perfumes, toiletries, and other vanity items all have a tax rate of 55%.

On top of that, the government would impose a 50% tax on products including cheese, curd, vegetables, sauces, mixed condiments, spices, dog food, and tobacco. For the Fiscal Year 2023, each of these rates has been changed.

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