ISLAMABAD – The Federal Board of Revenue (FBR) has waived off a variety of taxes for imported vintage or classic cars and jeeps.
An official notification issued by the caretaker government has exempted vintage or classic cars and jeeps meant for transport of persons on the import thereof from much of the customs-duty, regulatory duty, additional customs duty, federal excise duty, sales tax and withholding tax as are in excess of the cumulative amount of US dollars five thousand per unit.
Vintage or classic cars and jeeps are old and used automotive vehicles, falling under PCT Code 87.03 of the First Schedule to the Customs Act, 1969, manufactured prior to January 1, 1968, the FBR notification added.
