KARACHI: All Pakistan Motorcycle Spare Parts Importers and Dealers Association (APMSPIDA) on Friday urged Prime Minister Nawaz Sharif and Federal Finance Minister Ishaq Dar to reduce duty on import of motorcycle spare parts and bring it in line with maximum 25 percent import duty announced in federal budget 2014-15.
APMSPIDA Senior Vice Chairman, Khuram Riaz, said the finance minister had announced 25 percent maximum duty on imports whereas duty on import of motorcycle spare parts was kept at 35 percent.
He said at present, motorcycle spare parts’ dealers were paying around 85 percent taxes including 35 percent customs duty, 15 additional taxes, 17percent sales tax and five percent income tax.
He said motorcycle is not a luxury as it is a transport of students, people in lower and middle income group or poor segment of the society.
He demanded waver of 15 percent addition tax and bring down import duty on motorcycle spare parts to 25 percent from 35 percent.
Former president of the association, Faisal Khalil, said higher import duty on motorcycle spare parts encouraged its smuggling and deprived the government of import revenue.
Former chairman APMSPIDA M Rehan Hanif further pointed out towards serious and alarmingly growing problem of smuggling of motorcycle spare parts on massive scale from China.
The post Reduction demanded in bike spare parts import duty appeared first on Pakistan Press International.