ISLAMABAD: The ministry of commerce has issued notification to implement amendment payment procedure for customs clearance of imported motor vehicles.
The ministry issued SRO 1625(I)/2019 dated December 30, 2019 to amend Import Policy Order, 2016.
As per amendment: “Provided that in case the Pak Rupee depreciates or government increases the import duties or taxes after receipt of remittance and before filing of the goods declaration, which results in shortfall of remitted amount against payable duties and taxes, the importer shall be allowed to meet the shortfall through local sources.”
The commerce ministry through SRO 52(I)/2019 dated January 15, 2019 made it mandatory that payment for customs clearance of import motor vehicles shall be made out of foreign exchange.
Further, the proof of payment through banking channel was also made mandatory.
According to the SRO 52:-
“All vehicles in new/used condition to be imported under transfer of residence, personal baggage or under gift scheme, the duty and taxes shall be paid out of foreign exchange arranged by Pakistan Nationals themselves or local recipient supported by bank encashment certificate showing conversion of foreign remittances to local currency, as under:
(a) the remittance for payment of duties and taxes shall originate from the account of Pakistani national sending the vehicle from abroad; and
(b) the remittance shall either be received in the account of Pakistani national sending the vehicle from abroad or, in case, his account is non-existent or inoperative, in the account of his family.”
