Five-year tariff for import of two-wheeler, three-wheeler notified
Five-year tariff for import of two-wheeler, three-wheeler notified The government has notified five-year tariff for import of two-wheeler and three-wheeler vehicles under which a uniform Completely Built Unit (CBU) rate of50 percent has been fixed for the two and three wheeler automotive segment to rationalize the tariff structure and to prevent mis-declaration.According to Automotive Development Policy 2016-2021 released by ministry of industries, the duty rate for non-localized components for the assembly of vehicles has also been rationalized for the entire segment and fixed at 15 percent to prevent mis-declaration. It further said that the duty structure under SRO655(I)/2006 pertaining to concessionary inputs available to auto parts manufacturers is being rationalized to eliminate mis-declaration among sub-components and components. Further zero-rated tariff slab has been replaced with one percent in line with overall government policy, the policy said.
Muhammed Hanif Memon
Founder and Editor in Chief of Monthly Automark Magazine since 2006. Magazine published from Karachi Pakistan covers Automotive industry of Pakistan, car, motorcycle and tractor news. Magazine distributed in Karachi, Lahore, Hyderabad, Multan, Islamabad, Gujranwala, Faisalabad.