ISLAMABAD: Prime Minister Imran Khan on Wednesday praised Toyota Motors for investing $100 million for locally production of hybrid electric vehicles. A delegation of Toyota Indus Motors Company Pakistan called on Prime Minister Imran Khan. The meeting was attended by Vice Chairman Shinji Yanagi and Chief Executive Officer (CEO) Ali Asghar Jamali. The meeting was […]
KARACHI: Pak-Qatar General Takaful has signed a Memorandum of Understanding (MoU) with PakWheels.com to promote auto Takaful products to its customers. Mehmood Arshad, Country Head – Marketing Pak-Qatar General Takaful and Suneel Sarfaraz Munj, Chairman PakWheels.com signed the Memorandum of Understanding along with senior officials, said a statement on Monday. Since its inception in 2003, […]
KARACHI: Mobilink Microfinance Bank Limited (MMBL) has signed a Memorandum of Understanding (MoU) with Universal Motors (Private) Limited for financing motor vehicles. The collaboration will facilitate MMBL Borrowers by allowing them to finance commercial vehicles from Universal Motors through subsidized offerings, according to a statement issued on Monday. President & CEO MMBL, Ghazanfar Azzam, and […]
KARACHI: Indus Motor Company Limited on Friday announced 152 per cent increase in profit after tax for the year 2020/2021. The company declared Rs12.83 billion as profit after tax for the year 2020/2021 as compared with Rs5.08 billion in the preceding year. The company declared Rs163.21 as earnings per share for the year under review […]
Federal Board of Revenue (FBR) has issued updated rates of withholding tax on purchase of motor cars during 2021-2022. Car manufacturers are required to deduct withholding tax under Section 231B(3) of Income Tax Ordinance, 2001 from purchaser of the motor card. WITHHOLIDNG TAX CARD 2021/2022 The rate of advance tax on registration/transfer of motor vehicles: […]
ISLAMABAD: Federal Board of Revenue (FBR) has issued updated rates of withholding tax on transfers of registration or ownership of motor vehicles during the year 2021/2022. Motor vehicle registration authority is responsible to collect the withholding tax on transfer of registration or ownership of motor vehicle under Section 231B(2) of the Income Tax Ordinance, 2001. […]
KARACHI: The car sales posted a sharp rise of 114 per cent in July 2021 owing to tax cuts announced in the Finance Act, 2021. The car sales increased to 24,918 units in July 2021 as compared with 11,659 units in the same month of the last year. Analysts at Topline Securities said that the […]
KARACHI: Honda Atlas Cars (Pakistan) Limited on Thursday declared Rs928 million as profit after tax for the quarter ended June 30, 2021 as compared with the loss of Rs511 million in the same quarter of the last year. The financial results were presented before the board of directors on Thursday July 29, 2021. The board […]
The rate of tax on motor vehicle registration and purchase from manufactures for year 2021/2022 shall be:– S. No. Engine capacity Tax (1) (2) (3) 1. Up to 850cc Rs. 7,500 2. 851cc to 1000cc Rs. 15,000 3. 1001cc to 1300cc Rs. 25,000 4. 1301cc to 1600cc Rs. 50,000 5. 1601cc to 1800cc Rs. 75,000 […]
ISLAMABAD: Federal Board of Revenue (FBR) has said that exemption from withholding tax has been granted on purchase of used motor vehicles from general public. The FBR while explaining major changes made to Income Tax Ordinance, 2001 through Finance Act, 2021 said that used vehicle market is working in an undocumented environment. In order to […]