FBR to Impose Sales Tax on Used Cars
The Federal Board of Revenue (FBR) has announced a decision to collect sales tax from sales & purchase of used-cars, unveiling valuation mechanism for the taxation.
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Auto Sector Rejects FBR’s Data Demand
Auto assemblers and auto parts manufacturers have asked the Federal Board of Revenue (FBR) not to force companies to submit their data repeatedly as it will only hurt the ease of doing business drive in the country.
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Misuse of CNICs: FBR Uncovers Scam worth Billions in Auto Industry
The Federal Board of Revenue (FBR) has recently detected a fraud worth millions of rupees in which car dealers were found involved in registering vehicles by misusing the computerized national identity cards (CNICs).
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FBR Suffers Rs 22 Billion Due to Restrictions on Used-Car Imports
FBR has suffered massive revenue loss of Rs 22 billion from low tax collection on the import of old and used vehicles during July-January (2019-20) due to change in import policy for second hand cars.
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Tax Drive Blamed for Decline in Car Sales
According to a top executive of one of the three Japanese assemblers, the tax drive by the government is the reason behind the downfall in car sales.
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Government Fails to Curb Vehicle Smuggling
President of Pakistan Arif Alvi has upheld the recommendations of Federal Tax Ombudsman (FTO) to investigate wide spread reports on presence of showrooms dealing in non-custom-paid vehicles (NCP) in Quetta and further transportation of these automobiles to other parts of the country.
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Government to Withdraw 3% VAT on Imported Products
The government has reportedly planned to withdraw 3% value addition sales tax imposed on 32 various imported products.
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Government Seeks Data on Imported Cars Held Up at Port
Government has asked the customs department to give us the actual number of imported used cars stuck at Karachi port. Used car importers met Adviser to PM on Finance Abdul Hafeez Shaikh on August 26th seeking clearance of cars imported in violation of revised procedures.
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FBR to Recover Lifetime Tax from Small Cars Owners
The Federal Board of Revenue (FBR) is considering collecting lifetime income tax from the owners of cars with engine capacities ranging up to 1,000 cc. Lifetime token tax is already collected by the provinces on small cars however now FBR is seeking to recover lifetime income tax from the lower middle class citizens.
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FBR Launches Action Against Tax Evaders in Auto Related Businesses
The Federal Board of Revenue (FBR) issued notices to 312 car dealers and sellers of auto parts, asking them to get registered with the tax authorities.
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