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Tag: gift scheme

  • Ministry issues procedure for imports under personal baggage, transfer of residence, gift scheme

    Ministry issues procedure for imports under personal baggage, transfer of residence, gift scheme

    ISLAMABAD: The ministry of commerce and issued procedure for imports and customs clearance under schemes including personal baggage, gift and transfer of residence.

    The ministry of commerce issued SRO 902(I)/2020 dated September 25, 2020 and notified Import Policy Order 2020 while repealing the previous Import Policy Order, 2016.

    The ministry through the policy order issued procedure for import under personal baggage, gift scheme and transfer of residence schemes.

    Procedure for import

    (1) Personal baggage: Filing of Goods Declaration under section 79 of the Customs Act, 1969 accompanied with the following documents namely:

    a) Purchase receipt;

    b) Bill of Lading dated not later than 120 days from the date of arrival in Pakistan of the applicant; and

    c) Attested photocopy of passport or Pakistan Origin Card (original passport or Pakistan Origin Card required .to be checked by customs at the time of clearance)

    (2) Gift Scheme: Filing of Goods Declaration under section 79 of the Customs Act, 1969 accompanied with the following documents namely;-

    a) NIC of donee;

    b) Purchase receipt;

    c) Bill of Lading (showing name and address of consignee);

    d) Attested photocopy of passport or Pakistan Origin Card; and

    (3) Transfer of Residence: Filing of Goods Declaration under section 79 of the Customs Act, 1969 accompanied with the following documents namely;-

    a) Purchase receipt;

    b) Attested photocopy of passport or Pakistan Origin Card (original passport or Pakistan Origin Card may be required to be checked by the customs at the time of clearance);

    c) Bill of Lading (dated not later than 120 days from the date of arrival of applicant.

  • Overseas Pakistanis can bring vehicles under three schemes

    Overseas Pakistanis can bring vehicles under three schemes

    KARACHI: Pakistani nationals residing abroad including dual nationals can import old and used vehicles into Pakistan under three different schemes.

    Federal Board of Revenue (FBR) said that these schemes are included: Personal Baggage; Gift Scheme; Transfer of Residence.

    The FBR further said cars not older than 03 years and other vehicles not older than 05 years can be imported under these schemes.

    The structure of duty and taxes under these 03 schemes remains the same.

    Motorcycles and Scooters can only be imported under Transfer of Residence Scheme, the FBR said.

    Students receiving remittance from Pakistan, non-earning members of the Pakistani nationals living abroad and those who have imported, gifted or received a vehicle in past two years are not eligible under these schemes.

    Old and used Vehicles of Asian Makes under these 03 schemes can be imported against the payment of the following amounts:

    01.Upto 800 ccUS$ 4,800
    02.801cc to 1000ccUS$6,000
    03.From 1001 cc to 1300ccUS$13,200
    04.From 1301cc to 1500ccUS$18,590
    05.From 1501cc to 1600ccUS$22,550
    06.From 1601cc to 1800cc (Excluding Jeeps)US$27,940

    Depreciation in duties & taxes at the rate of 1% per month is admissible according to the age of the vehicle.

    The FBR said that 50 percent exemption from duty & taxes is admissible on import of Hybrid Electric Vehicles (HEVs) of engine capacity up to 1800cc and 25 percent exemption from duty & taxes is admissible on import of HEVs of engine capacity from 1800cc to 2500cc.

    IMPORT OF DUTY FREE CAR FOR DISABLED PERSONS
    Duty free import of a car of engine of capacity up to 1350 cc in new condition to disabled person subject to recommendations of the Federal Board for Disabled Persons.

  • Pakistan imposes new conditions for clearance of new and used imported vehicles

    Pakistan imposes new conditions for clearance of new and used imported vehicles

    In a bid to enhance transparency and ensure fiscal compliance, Pakistan has implemented new conditions for the clearance of both new and used imported vehicles under concessionary schemes.

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  • ECC approves clearance of imported vehicles on verified foreign currency payment

    ECC approves clearance of imported vehicles on verified foreign currency payment

    ISLAMABAD – In a recent session, the Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Asad Umar, gave its approval for a significant policy shift regarding the clearance of imported vehicles under various schemes.

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