Budget 2019-20: 2.5% Federal Excise Duty to be imposed on 1,000CC cars
ISLAMABAD – Minister of State for Revenue Hammad Azhar on Tuesday stated that the federal budget for FY2019-20 recommends that cars of up to 1000 CC see a Federal excise duty of 2.5 per cent.
It is further recommended that cars having 2000CC capacity see a federal excise duty of 5% imposed while those having more than 2000CC in capacity 7.5%.
Azhar announced that the budget recommends a federal excise duty of Rs5,200 on every 10,000 cigarettes be imposed.
However, Textile machinery and parts will be exempt from duties. Duty will also be lowered on flexible fibers and non-woven materials. Paper scrap and pulp will be exempted from custom duty as paper is an important input in the educational sector.
Meanwhile, non-filers are no more restricted from purchasing property and they are to be allowed to purchase property of over Rs5 million.
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