Import duty on motorcycle spare parts – Karachi Chamber of Commerce and Industry assures to take up exorbitant custom duty, taxes issue
Karachi, October 31, 2014 (PPI-OT): President of the Karachi Chamber of Commerce and Industry (KCCI) has said that the Karachi Chamber will support All Pakistan Motorcycle Spare Parts Importers and Dealers Association’s demand to bring down the exorbitant custom duties on import of motorcycle spare parts with a view to discourage smuggling and create an enabling business environment.
Talking to a 30-member delegation of All Pakistan Motorcycle Spare Parts Importers and Dealers Association during their visit to KCCI, Iftikhar Vohra expressed deep concern over the situation as he was told that the importers of motorcycle spare parts were bound to pay 35 percent Custom Duty along with 15 percent additional duty, 17 percent sales tax and 3 percent additional tax whereas the government claims that the highest Custom Duty on imported goods was not more than 25 percent.
Vice Chairman Businessmen Group, Anjum Nisar, Senior Vice President KCCI, Mohammad Ibrahim Kasumbi and KCCI Managing Committee members attended the meeting while the All Pakistan MSPIDA delegation was led by its Chairman, Faisal Khalil and Vice Chairman MSPIDA, Tariq Siddiqui.
Iftikhar Vohra further informed the delegation that one of his top most priority was to urge the government to devise a stringent strategy towards effectively dealing with the menace of smuggling. In this regard, the Karachi Chamber will soon be organizing a conference on Anti-smuggling as this menace was not just affecting the motorcycle spare parts importers but it was having a grave impact on every sector of the economy.
Responding to various issues highlighted by MSPIDA delegation, Iftikhar Vohra assured that Karachi Chamber will certainly take up these issues pertaining to Custom Valuation Review, audit notices and break-ins of various shops situated in the market with the concerned authorities in order to get them resolved as early as possible.
He stated that high-ups in the police department and Pakistan Rangers Sindh will be urged to ensure security to the lives and properties of businessmen associated with motorcycle spare parts businesses.
Earlier, Chairman All Pakistan Motorcycle Spare Parts Importers and Dealers Association, Faisal Khalil, while underlining the grievances being faced by importers, pointed out that although the government claims of keeping the custom duty on imported goods limited to not more than 25 percent but the importers of motorcycle spare parts were paying custom duty of 35 percent along with other additional duties and taxes, resulting in raising the overall levies to almost 90 percent which is highly unfair.
He also sought KCCI assistance in convincing the concerned department to take decision within 30 days in case of Custom Valuation Review. “Although a time period of 30 days is given to the appellant when any valuation advice is issued but no time frame is given to the department to decide the appeal which sometimes results in delaying cases by 6 to 7 months”, he noted.
He also expressed deep concern over issuance of audit notice to commercial importers who were already paying 17 percent sales tax and 3 percent additional tax as full and final payment.
Touching upon the insecurity in motorcycle spare parts market, Faisal Khalil informed that they have witnessed abrupt upsurge in the incidents pertaining to break-ins at various shops in their market whereas the police officers have failed to provide security. In this regard, he asked KCCI to help MSPIDA in bringing this serious issue to the notice of heads of Law Enforcing Agencies in order to give some relief to perturbed shopkeepers.
For more information, contact:
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Email: email@example.com, firstname.lastname@example.org
Category: Chambers of Commerce