ISLAMABAD: The Federal Board of Revenue (FBR) has exempted vintage or classic cars and jeeps meant for transport of persons from various duties, according to notification issued here. "Federal government is pleased to exempt vintage or classic cars and jeeps meant for transport of persons on the import thereof from so much of the customs-duty, regulatory duty, additional customs duty, federal excise duty, sales tax and withholding tax as are in excess of the cumulative amount of US dollars five thousand per unit," said the FBR notification.–APP

The duties have been exempted in exercise of the powers of Customs Act 1969, Federal Excise Act 2005 and Sales Tax Act.

However, it clarified that vintage or classic cars and jeeps mean old and used automotive vehicles, falling under PCT Code 87.03 of the First Schedule to the Customs Act 1969(IV of 1969), manufactured prior to January 1st, 1968.