New Import tax regime for motor vehicles
The following is a release issued by the Customs and Excise Department: In November 2022, Government introduced a new tax regime for the importation for motor vehicles. The new Import Tax regime lowers Import Duty and Excise Tax rates on certain classes of motor vehicles and modified the motor vehicle Surcharge Tax. The lower Import Duty and Excise Tax came into effect on 1st January, 2023. The revised motor vehicle …
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