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ISLAMABAD: Chairman Federal Board of Revenue (FBR) Rashid Mahmood Langrial on Wednesday informed that Ministry of Law would clarify whether, imported SUVs, or Sports Utility Vehicles under the category of Electric vehicles (EVs) and hybrid electric vehicles (HEVs) are chargeable to 30 percent federal excise duty (FED).
The FBR chairman here on Wednesday briefed Senate Standing Committee on Finance & Revenue on the issue of chargeability of Federal Excise Duty on SUVs/EVs.
In terms of S No 55C of Table-1 of the First Schedule to the Federal Excise Act, 2005, imported double cabin (4x4) pick up vehicles are chargeable to FED @ 30% ad val. The description of goods as mentioned in the said provision of law includes all types of double cabin (4x4) pick up vehicles irrespective of their nature and capacity of engine, the FBR chairman said.
The Senate Standing Committee on Finance and Revenue pointed out during its meeting that the aforesaid S No 55C of Table-1 of First Schedule does not impose FED on import of EVs/HEVs as the said vehicles are not mentioned in the description of goods. Furthermore, PCT codes mentioned therein do not relate to double cabin EVs/HEVs.
In order to resolve the said difference of interpretation of law, the Senate Standing Committee directed the Board that the matter should be resolved through a legal interpretation sought from the Ministry of Law.
The FBR chairman informed that a total of 1642 posts for customs field formations meant for direct recruitment on the basis of provincial and regional domicile.
Source: Business Recorder, 2024
https://www.brecorder.com/news/40337140/...ity-of-fed