FBR receives information of car buyers from withholding agents

ISLAMABAD: Federal Board of Revenue (FBR) has received information of persons who purchased motor vehicles during tax year 2019.

The tax authorities will cross check the sale or purchase of motor vehicles through income tax returns for tax year 2019, which can be filed by November 30, 2019.

The FBR sources said that the tax authorities had received information of persons who purchased motor vehicles 1,000 CC and above.

A person is required to file income tax returns if he purchases a motor car in a tax year irrespective of his taxable income falls below or above the threshold.

The sources told PkRevenue.com that the FBR received the information car manufacturers, dealers of motor vehicle, registration authorities, bank and leasing companies.

They said that these withholding agents are required to furnish withholding statements, which must contain information of sales or lease of motor vehicles.

The withholding agents have provided details of persons included: name, NTN/CNIC, registration number of the motor vehicle, motor vehicle make/model/engine capacity/year of manufacture, date of first registration of vehicle in Pakistan, registered capacity/laden weight of the vehicle, ex-factory price of motor vehicle.

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