Sindh High Court Orders Release of Imported Vintage Cars
Sindh High Court has ordered Customs authorities to release certain imported vintage cars.
The larger bench, constituted by the order of the Chief Justice of the Sindh High Court (SHC), announced its verdict today and ordered the Customs authorities to release the vehicles that have already arrived in Pakistan.
Prior to this, two different benches at the SHC had announced different verdicts on the case. One had ordered that the cars be released under the Statutory Regulatory Orders (SRO) No. 833, while the other had dissented from it.
A state counsel argued before the bench that the vehicles in question cannot be classified as ‘vintage’ on account of not being 50 years old.
Contrarily, the bench observed that although there is a ban on the import of old cars, a family member is permitted to import such a vehicle under the new policy.
On 3 July 2018, the Revenue Division under the Ministry of Finance had classified cars manufactured before 1 January 1968 as ‘vintage’ under SRO No. 833 and had exempted them from all kinds of taxes, including customs duty, regulatory duty, additional customs duty, federal excise duty, sales tax, and withholding tax, in favor of a cumulative amount of $5,000 per unit.
The news includes Car News, eTechnews pk, World news, Technology News, yahoo