Govt increases regulatory duty on vehicles
The federal government has increased the regulatory duty on imports of more than a dozen items, including electric vehicles and all other types of imported vehicles, from 5% to 35%.
However, the 5% regulatory duty on varnish imports has been abolished and the new regulatory duty will remain in force till June 30, 2022.
A notification issued by the Federal Board of Revenue (FBR), a copy which is available with The Express Tribune, states that the rate of regulatory duty on imports of electric vehicles has been increased from 5% to 10%.
According to the FBR, the regulatory rate on imports of various types of vehicles above 1000 cc, including minivans, has been increased from 35% to 50%.
Similarly, the rate of regulatory duty on import of various items including polypropylene has been increased from 5% to 10% with an increase of 5%.