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Rules for import of used cars:
The Central Board of Revenue (CBR) on Saturday issued new rules for regulating the import of used cars by overseas Pakistanis apparently to discourage the import of vehicles to provide protection to the local manufacturers.
The new rules named “Import of Vehicles Rules 2006” issued through a customs notification here involved procedures besides two lengthy certificates earning and gift undertaking conditional for availing the facility.
According to conditions notified for the import of vehicles by overseas Pakistanis, vehicles more than five years old shall not be allowed to be imported under gift, personal baggage and transfer of residence scheme. This condition shall apply to the vehicles arriving on or after the July 1, 2006.
Minimum stay abroad for import as personal baggage shall be 180 days within the last seven months preceding the date of application; minimum stay abroad requirement for gifting a vehicle or importing under transfer of residence shall be at least 700 days during the past three years and a vehicle may be gifted only to a family member normally resident in Pakistan.
In case of cars with engine capacity of 1800cc and above, and 4×4 vehicle in new condition to be imported either under personal baggage or under gift scheme, the duty and taxes will be paid out of foreign exchange arranged by Pakistan nationals themselves or local recipient supported by bank encashment certificate showing conversion of foreign remittance to local currency.
The CBR also issued procedure for import of used cars –filing of goods declaration accompanied with the following documents namely:
. Purchase receipt
· bill of lading dated not later than 120 days from the date of arrival in Pakistan of the applicant
· Attested photocopy of passport or Pakistan Origin Card (original passport or Pakistan Origin Card required to be checked by customs at the time of clearance).
· The registration documents in case of used vehicles.
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