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No new customs duty on motorcycle industry

No new customs duty on motorcycle industry

ISLAMABAD: Federal Board of Revenue (FBR) has given duty concessions to the manufacturers of motorcycles by issuing SRO.939(I)/2013 and SRO.940(I)2013. The FBR will not charge the additional customs-duty on sub-components and components, imported in any kit form by a new entrant assembler or manufacturer of motorcycles in Pakistan. Through these notifications, FBR has amended SRO 656(1)/2006, dated June 22, 2006 and SRO 693(I)/2006, dated July 1, 2006. According to SRO 939(I)/2013, in line with the new entrant policy for motorcycle manufacturing industry with new technology notified by Ministry of Industries and Production vide Notification No 4-1/2013/LED-II-(Vol-III), dated the September 26, 2013, the additional customs-duty leviable under this notification shall not be charged on sub-components and components, imported in any kit form by a new entrant assembler or manufacturer, for assembly or manufacturing of motorcycles classified under Pakistan Customs Tariff (PCT) heading 87.11 specified for a period of five years from the start of assembly or manufacturing with new technology. This is subject to the fulfillment of certain conditions.