Posted on 24 Oct 2007
The import duty on fully assembled cars has been cut from 70 percent to 60 percent, under a Ministry of Finance’s decision released on October 19.
The decision will take effect 15 days after it is published in the official gazette.
This is the third time the Ministry has cut tax rates on car imports since the beginning of the year when it stood at 90 percent.
The Ministry is also considering whether to cut duties levied on used cars by 5 percent and 10 percent, it said. A time frame for the move was not announced.
