Tariff reduced on microbus imports
NBR issued a circular in this regard on Thursday
The government has reduced tariff by 10% on 10-15 seater microbus imports, to encourage the use of safe public transport and prevent accidents.
The National Board of Revenue (NBR) issued a circular in this regard on Thursday.
According to the circular, the supplementary duty on the import of microbuses with no more than 15 seats has been reduced to 20% from 30%. Also, the cars now have to be brought under the 8702.90.40 HS code.
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The reduction comes following continuous demand to this end from car importers.
The government had only reduced the supplementary duty (SD) for seven to nine-seater microbuses in its announced budget for the fiscal year 2021-2022 fiscal year.
Also, SD on hybrid microbuses, 1801cc to 2000cc, was reduced from 45% to 30%, and SD on hybrid microbuses from 2001cc and above was reduced from 60% to 45%.
