The Central Board of Revenue (CBR), from July 1, 2007, will outrightly confiscate non-duty paid smuggled vehicles imported in violation of Import Policy Order.
CBR official spokesman Imran Ghaznavi said here on Friday that the release of vehicles, other than trucks, buses and their chassis, smuggled or imported in violation of the Import Policy, had been allowed on payment of redemption fine up to June 30, 2007, but thereafter such vehicles would be confiscated outrightly.
The release of smuggled vehicles with non-tampered chassis had been allowed on payment of 30 percent redemption fine, in addition to customs duties and other taxes leviable thereon.
These non-duty paid smuggled vehicles now stand excluded from redemption fine regime. Considering that tainted import of vehicles, utilising redemption fine, started adversely affecting lawful import as well as local industry, it was announced in last budget that vehicles shall be allowed release on payment of redemption fine till June 30, he added.
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