Amendment in S.R.O.577(I)/2006, dated 05.06.2006

GOVERNMENT OF PAKISTAN
MINISTRY OF FINANCE, ECONOMIC AFFAIRS, STATISTICS AND REVENUE
(REVENUE DIVISION)

Islamabad, the 1st July, 2017.

NOTIFICATION
(CUSTOMS)

S.R.O. 565(I)/2017.- In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), clause (a) of sub-section (2) of section 13 of the Sales Tax Act, 1990, sub-section (2) of section 16 of the Federal Excise Act, 2005 and sections 53 and 148 of the Income Tax Ordinance, 2001 (XLIX of 2001), read with the Second Schedule thereof, subsection (10) of section 7 of the Finance Act, 1989, the Board, with approval of the Federal Minister-in-charge, is pleased to direct that the following further amendments shall be made in its Notification No. S.R.O. 577(I)/2006 dated the 5th June, 2006, namely:-

In the aforesaid Notification,-

(a) in the preamble, after the word "vehicles", the words "specified in the conditions below" shall be inserted;

(b) in condition (a), for the word "Central", the word "Federal" shall be substituted and the word "and" at the end shall be omitted;

(c) in condition (b), after the words "local sale" the words "of first vehicle" shall be inserted, and for the word "Central", the word "Federal" shall be substituted and for the full stop at the end, the semicolon and word "; and" shall be added; and

(d) after condition (b), the following new condition shall be added, namely:-

"(c) second vehicle, if any, would mean the motor vehicle exempted at the time of import from customs duty and other taxes, imported by the diplomat who has his spouse in Pakistan to whom a diplomatic card has been issued by the Ministry of Foreign Affairs for residing in Pakistan. Such motor vehicle shall only be sold, or otherwise disposed of with prior permission from the Ministry of Foreign Affairs under intimation to Federal Board of Revenue on payment of leviable duty and taxes as per following:-

(i) if the second vehicle is sold or otherwise disposed of before expiration of two years from the date of importation, 100 % of duty and taxes shall be leviable as per prevailing rate of

exchange and duty and taxes on value determined in foreign currency at the time of importation;

(ii) if the second vehicle is sold or otherwise disposed of after expiration of two years from the date of importation, 1% per month depreciation will be allowed on assessable value of the vehicle up to 50% maximum; and

(iii) the valid diplomatic card of spouse as well as own diplomatic card of the diplomat shall be presented during the personal appearance before customs authorities at the time of applying for NOC for disposal of the second vehicle."

[C. No. 5(1)/92.Cus.Exm(Pt)]

(MUHAMMAD ZAHID)
Additional Secretary/Member (Customs)