FED in range of 2.5% to 7.5% imposed on locally assembled cars
KARACHI: The Federal Budget 2019-20 has proposed Federal Excise Duty (FED) in the range of 2.5% to 7.5% on locally manufactured or assembled motor cars, SUVs and other motor vehicles, principally designed for the transport of persons.
[the_ad id="31605"]Through Finance Supplementary Second Amendment Act 2019 FED on cars 1700 cc and above was introduced at 10%. Now it is proposed to enlarge the scope of FED and following slabs are being introduced.
FED of 2.5% on cars from 0 to 1000cc; FED of 5% on cars from 1001cc to 2000cc and FED at the rate of 7.5% on cars from 2001cc and above at 7.5%.