KARACHI: The Federal Government has rescinded SRO 499 (I)/2013, which extended exemption of Customs duty, sales tax and withholding tax on import of hybrid electric vehicles (HEVs) falling under PCT Code 87.03. Revenue Division issued SRO 935 (I)/2024 to this effect.
Moreover, SRO.327(I)/2007 has also been rescinded vide SRO 933 (I)/2024. This has eliminated the 40-year exemption of whole of Customs duty was awarded to materials and equipments, not manufactured locally, if imported for Construction and Operation of Gwadar Port and development of Free Zone for Gwadar Port and Ship Bunker Oils bought and sold to the ships calling on/visiting Gwadar Port.