GOVERNMENT OF
REVENUE DIVISION
CENTRAL BOARD OF REVENUE
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C.No.2(10)Tar.II/97.
CUSTOMS GENERAL ORDER NO.14/2005
SUBJECT:- ASSESSMENT OF MOTOR VEHICLES.
The Central Board of Revenue is pleased to prescribe the following procedure for assessment of motor vehicles in order to ensure its uniform application at all Customs stations throughout the country:-
(i) The FOB value of a motor vehicle at the time of its manufacture, as certified by the manufacturers or their authorized local agents shall be accepted.
(ii) In case of domestic models, for which the FOB values are not provided by the manufacturers, the FOB values certified by the manufacturers or their authorized agents in case of export models of similar vehicles shall be loaded by 5% on the C&F value.
(iii) The local agent's commission and other incidental charges, if any, shall be added to the so ascertained FOB value, if not already included in the price certified by the manufacturers or their authorized local agents.
(iv) The actual amount of ocean/air fright as calculated from the country of original manufacture shall be added for the purpose of arriving at the C&F value of the imported vehicle.
(v) Actual amount of insurance in the country of manufacture or first registration shall also be added in order to arrive at the CIF value. However, in case of non-availability of insurance memo for any reason, an amount equivalent to 1% of C&F value shall be included.
(vi) Landing charges @ 1% of the sum total of CIF value shall be added to the price in order to arrive at the assessable value.
(vii) The value of optional/additional accessories shall also be included in the assessable value of the vehicle, which shall be subjected to the rate of duty and taxes applicable to the vehicle in which the accessories are fitted.
(viii) Customs duties and taxes shall be worked out on the basis of prescribed rates at the time of filing of the goods declaration (GD) except for old and used vehicles for which a cumulative amount of all leviable duties and taxes has been notified in the Gazette.
2. Depreciation in the assessable value, for the purpose of assessment shall be allowed on the import of used/second hand motor vehicles at the rate of 2% per month for each completed month, calculated from the date of first registration abroad upto the date of entry into Pakistan, subject to a maximum of 50%.
3. This order shall take effect from 6th June, 2005, in supersession of Customs General Order No.10/2004 dated 31-08-2004.
(FAZAL YAZDANI KHAN)
Secretary (Customs Tariff)