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ISLAMABAD, March 30: The Federal Board of Revenue has enhanced maximum limit of depreciation from existing 50 to 60 per cent on import of old, used and second-hand cars, FBR announced here on Wednesday.
The decision was taken in line with a similar decision taken by the ECC in its meeting held on March 1.The revenue division has issued SRO 275 (1) / 2011 (June 26) amending the parent notification No 577(1) / 2005. Customs General Order No 02/2011 has also been issued to modify the order No 14 / 2005.
