ISLAMABAD, July 10: The Central Board of Revenue (CBR) has fixed the levy of duty and taxes on imported automotive vehicles (CBU condition) in US dollar to reduce the element of under- invoicing.

The amount of customs duty, sales tax, withholding tax and capital value tax (CVT) chargeable on imported vehicles were notified through a customs general order (CGO) No 6 issued here on Saturday.

The proposed duty and taxes in US dollar will be $4000 on vehicles up to 800 CC; $5000 up to 1000CC; $10,000 up to 1300CC; $18,000 up to 1600CC; $22,000 up to 1800 CC and $27,000 above $1800CC.

The proposed duty on other vehicles $33,000 on Honda Accord 2000CC; $34,00 on Toyota Mark-II 2000 CC; $36,000 on Toyota REV-4 Jeeps 2000CC; $86,000 on Mercedes Benz C200 2000CC; $70,000 on Mercedes Benz E240 2500CC; $1,30,000 on Mercedes Benz S320 3200CC; $38,000 on Toyota Hilux Surf 2779 CC; $30,000 on Toyota Land Cruiser Prado Jeep 2779CC; $49,000 on Toyota Land Cruiser Prado Jeep 3000CC.

The rate of duty will be $70,000 on Toyota Land Cruiser Jeep 4153 CC; $60,000 on Toyota Land Cruiser Jeep 4166; $70,000 on Toyota Land Cruiser Jeep 4200 CC; $74,000 on BMW XG Jeep; $10,000 on Diesel Bus 70 capacity without A/C Chinese origin; $8,000 on Mercedes Benz Coaches 15 seaters; $8,000 on Mercedes Benz Coaches 12 seaters; $7,000 on Mercedes Benz Coaches 10 seaters.

The CGO further said that the import of used and second hand cars will be allowed depreciation in the form of reduction in the fixed amount of customs duty/taxes in US dollar at the rate of 1 per cent for each complete month or 10 per cent per annum calculated from the date of the first registration abroad up to the date of the entry into the Pakistan subject to the maximum of 50 per cent depreciation on vehicles more than five years old.

In case of import of re-conditioned/refurbished vehicles, amount of taxes worked out after allowing depreciation might be inflated/loaded by 10 per cent.

A senior customs official told Dawn that in the next few day fixation of duty and taxes on import of commercial vehicles will also be notified.

He said that more vehicles will be included in the list to reduce the discretionary powers of the customs officials. The official maintained that the fixed value will provide adequate protection to the local industry against the under-invoicing.