Nov 20

Sukkur Customs to auction Toyota, Suzuki cars on November 25, 2022

KARACHI: The Customs Collectorate, Sukkur has announced auction of Toyota and Suzuki cars to be held on November 25, 2022 at state warehouse of the Collectorate. The Collectorate will present following cars for the auction: READ MORE: Pakistan car imports surge by 108pc as restriction eases 01. Suzuki Kie Car, bearing Registration No. Without Number, […]

by Mrs. Anjum Shahnawaz

FBR slaps additional customs duty at 35% on motor vehicles

Aug 24

Automotive, National, Taxation

FBR slaps additional customs duty at 35% on motor vehicles

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed additional customs duty at the rate of 35 per cent on import of motor vehicles under various HS Codes. The FBR issued SRO 1572(I)/2022 dated August 22, 2022 to notify amended rates of additional customs duty on import of various items. Through the instant SRO, the […]

by Mrs. Anjum Shahnawaz

Clearance of banned cars, phones allowed on 100% surcharge

Aug 20

Automotive, Finance, IT & Telecom, Ports and Shipping

Clearance of banned cars, phones allowed on 100% surcharge

ISLAMABAD: The government has allowed clearance of stuck up consignments of cars and mobile phones on payment of 100 per cent surcharge. The ministry of commerce on Friday issued an office memorandum regarding prohibition / complete quantitative restrictions on import of non-essential and luxury items. READ MORE: Pakistan lifts ban on import of cars, phones, […]

by Mrs. Anjum Shahnawaz

Super tax to hammer auto business in Pakistan: Honda Atlas

Jul 28

Automotive, Taxation, Top stories

Super tax to hammer auto business in Pakistan: Honda Atlas

KARACHI: Honda Atlas Cars (Pakistan) Limited on Thursday said that super tax to hammer the already thin margins of the auto business in the country. The company in its detailed financial report said: “The imposition of Super Tax will further hammer the already thin margins of auto business.” The company said that the automobile industry […]

by Faisal Shahnawaz

Toyota unveils all new Crown for first time

Jul 15

Automotive, World

Toyota unveils all new Crown for first time

JAPAN: Toyota Motor Corporation on Friday unveiled its all new Crown. The four new models of Crown are Crown (Crossover Type), Crown (Sport Type), Crown (Sedan Type), and Crown (Estate Type). The company will release the Crown (Crossover Type) as the first model during the fall of this year. TOYOTA has unveiled the all new […]

by Hamza Shahnawaz

SBP makes permission mandatory for motor car import

Jul 6

Automotive, Money & Banking, Top stories

SBP makes permission mandatory for motor car import

KARACHI: The State Bank of Pakistan (SBP) on Tuesday made it mandatory for banks to take prior permission for making transactions related to import of motor cars in Completely Knocked Down (CKD). The SBP issued a circular to implement the decision. The central bank invited attention of banks to EPD Circular Letter No. 9 dated […]

by Faisal Shahnawaz

Tax authorities to determine values of immovable properties, motor cars on discovery of concealment

Nov 2

Taxation

Tax authorities to determine values of immovable properties, motor cars on discovery of concealment

ISLAMABAD: The tax authorities shall determine value of immovable properties and motor cars for tax purpose on discovery of concealment by a person or a company. Officials in Federal Board of Revenue (FBR) said that under Section 111 of Income Tax Ordinance, 2001 any disclosed income or assets will be taken as concealed income and […]

by Mrs. Anjum Shahnawaz