Customs duty on imported cars skyrocketed by millions
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The Customs Department has announced a whopping increase in duties on imported cars apparently aimed at discouraging the flight of dollars from the country, reported 24NewsHD TV channel on Thursday.
The custody duty on 660cc vehicles has been more doubled from Rs775,000 to Rs17,85,000 – an increase of over a million rupees. The duty on 1000cc cars has been snowballed from Rs966,000 to Rs21,50,000 – an increase of nearly Rs1.2 million.
The rate of customs duty on 1500cc imported cars was increased by Rs4.6 million – raised from Rs2.5 million to Rs7.1 million. Similarly, the rate of duty on 1500cc hybrid imported cars went up by over Rs3.9 million.
The rate of customs duty on 1800cc imported has been increased by Rs6 million which means the imports will now have to pay Rs9.5 million duty instead of Rs3.5 million.
Reporter Umair Azmat