Vehicle Permits Reintroduced

Vehicle Permits Reintroduced

Government permits to import vehicles concessions tax schemes issued to government servants has been reintroduced by the Ministry of finance, with amendments following strong lobbying by different trade union groups.
A circular to this effect has been issued by the ministry of finance last week. However only two permits will be issued to any single officer during his or her tenure of service, while the second permit will be issued only after ten year gap of the issuance of the first permit. Officers who have obtained two or more vehicle permits under previous schemes will not qualify under the new scheme. The face value of each concessionary vehicle permit is US$30,000. A permit holder is entitled to 50 percent tax waive of the total tax to be paid for his or her selected vehicle.
Public Officers, Executive Officers attached to the State Corporations and other Statutory Boards, doctors and legal officers attached to Government Service, University Vice Chancellors, University Lecturers and Executive Grade Officers attached to University Non-Academic Staff are entitled to receive vehicle permits under this Concessionary Basis Vehicle Permit Scheme. Government officers will only become eligible to obtain the permit after the completion of six years of service in the position. However, this limit of service in State Sector will differ for the officers of State Corporations and statutory Boards.
Further government officers of Executive Grade will be issued permits under the concessionary basis at the time of their retirement.
The government has issued more than 38,000 vehicle permits to state sector officers under the previous concessionary scheme since 2010. The value of tax waive by issuing concessionary vehicle permits to public officers is exceeding Rs.143 billion.
Courtesy – Sunday observer