S.R.O. 576(I)/2006, dated 5th June, 2006

SROS: S.R.O. 576(I)/2006, dated 5th June, 2006 EXEMPTION FROM CUSTOMS DUTY, SALES TAX, INCOME TAX & CAPITAL VALUE TAX ON VEHICLES, INCLUDING MOTOR CARS IMPORTED INTO PAKISTAN BY A PRIVILEGED PERSON, ORGANIZATION, OFFICE, AGENCY AND THE DIGNITARIES OF UAE AND QATAR AND SUBSEQUENTLY SOLD OR OTHERWISE DI Notification No. S.R.O. 576(I)/2006, dated 5th June, 2006:- In exercise of the powers conferred by section 19 of the Customs Act, 1969(IV of 1969), and clause(a) of sub-section(2) of section 13 of the Sales Tax Act, 1990, and sections 53 and 148 of the Income Tax Ordinance, 2001(XLIX of 2001), read with the Second Schedule thereof] sub-section(10) of section 7 of the Finance Act, 1989, and in super-session of its Notification No. SRO 447(l)/2004, dated 12th June, 2004, the Federal Government is pleased to exempt vehicles, including motor cars, falling under respective headings of Chapter 87 of the First Schedule to the Customs Act, 1969(IV of 1969), imported into Pakistan free of customs-duty and other taxes by a privileged person, organization, office, agency and the dignitaries of UAE and Qatar listed under PCT 9905 and subsequently sold or otherwise disposed of in the country, from so much of customs-duty and other taxes as is in excess of that leviable thereon as set out below, subject to the following conditions, namely:- (a) no such motor vehicle shall be sold, transferred or otherwise disposed of in Pakistan except with the prior permission of the Central Board of Revenue. (b) no such motor vehicle shall be sold or otherwise disposed of in Pakistan before the expiration of…