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Cars only for those who pay their taxes

ISLAMABAD: The Central Board of Revenue (CBR) has asked automobile manufacturers to sell vehicles only to citizens with a National Tax Number (NTN), official sources said on Saturday. The decision was taken after customs notification Statutory Regulatory Order (SRO) 990 of 2006 was issued this week by amending notification SRO 656 of 2006. Monthly records shall now be provided to the CBR or to any other designated person. The CBR has withdrawn concessionary duty on the import of some auto components for local assemblers. Similarly, the CBR has withdrawn the concessionary duty in excess of 10 percent and 20 percent on components required for assembly/manufacture in any kit form on vehicles of gross vehicle weight (GVW) exceeding 5 tonnes. The CBR has exempted assembly kits of all vehicles subject to the condition that no duty drawback will be claimed at the time of export, and that import kits relate to the vehicle of same engine capacity as exported. sana

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