Jan 20

FBR enhances tax rates on motor vehicle registration

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday notified the enhanced rates of advance tax on those vehicles, which sold prior to first registration. The tax rates have been enhanced through Finance (Supplementary) Act, 2022 through making amendment in Section 231(B)(2A) of Income Tax Ordinance, 2001. The FBR said that advance tax on vehicle […]

by Anjum Shah

Oct 7

Taxation

Advance income tax on motor vehicles

Section 234 of Income Tax Ordinance, 2001 has defined the rate of advance income tax on motor vehicles to be collected by persons collecting motor vehicle tax. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following […]

by Anjum Shah

Tax rates on unregistered new cars during 2021-2022

Aug 23

Taxation

Tax rates on unregistered new cars during 2021-2022

In order to stop the ‘on money’ phenomenon, the government has slapped withholding tax on unregistered new motor cars or cars sold prior to first registration. Through the Finance Act, 2021 the tax rates have been imposed for the year 2021/2022 and onwards. Initially, these rates were imposed through the Tax Laws (Amendment) Ordinance, 2021 […]

by Hamza Shah

Advance tax rates on motor car purchase, registration

Jul 27

Automotive, Taxation

Advance tax rates on motor car purchase, registration

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 […]

by Faisal Shah

Highlights of relief in duty, taxes for import, local supply of cars

Jun 16

Automotive, Budget 2021-2022, Taxation

Highlights of relief in duty, taxes for import, local supply of cars

KARACHI: The government has proposed relief in duty and taxes on import and local supply of motor cars up to 850CC in order to enable lower income group to purchase the motor vehicles. According to a commentary on budget 2021/2022 issued by KPMG Taseer Hadi & Co. Chartered Accountants, in recent years, the prices of […]

by admin

May 16

Auction

MCC Peshawar auctions motor vehicles on May 19-20

ISLAMABAD: Model Customs Collectorate (MCC) Peshawar has announced to conduct public auction of motor vehicles at various customs stations on May 19 and May 20, 2021. Following are the details of motor vehicles and location of auction: STATE WARE HOUSE, PESHAWAR 01. Mercedes Benz (Bullet Proof) Model 1982, chassis No. WDB-12603312037551 02. Mitsubishi Pajero Station […]

by admin

Apr 19

Auction

MCC Gwadar announces auction of motor vehicles on April 21

KARACHI: Model Customs Collectorate (MCC) Gwadar has announced auction of confiscated motor vehicles on April 21, 2021 to be held at Custom House, Gaddani. Following motor vehicles will be presented for the auction: 01. Toyota Premio X Car, Reg: No AAK-046, Chassis No. ZZT240-0112894, Engine No. Nil, Model: 2006 02. Toyota Surf, Reg No. QBA-0162, […]

by admin

Withholding tax up to Rs200,000 imposed on sale of new car within 90 days

Feb 15

Automotive, Taxation

Withholding tax up to Rs200,000 imposed on sale of new car within 90 days

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed up to Rs200,000 as withholding tax on sale of motor cars within 90 days of first registration, sources said on Monday. The withholding tax has been imposed till June 30, 2021. The revenue generation measure has been taken in order to discourage the trend of ‘on […]

by admin

Tax collection from motor vehicle registration surges by 62 percent in 1HFY21

Jan 19

Taxation

Tax collection from motor vehicle registration surges by 62 percent in 1HFY21

KARACHI: Advance tax collection from registration of new motor vehicles has surged by 62 percent during first half (July – December) of the current fiscal year (1HFY21). The collection of advance tax increased to Rs730 million during the first half of the current fiscal year as compared with Rs450 million in the corresponding half of […]

by admin

Pakistan Customs announces auction of huge lot of motor vehicles on Jan 14

Jan 12

Auction, Pakistan Customs

Pakistan Customs announces auction of huge lot of motor vehicles on Jan 14

ISLAMABAD: Pakistan Customs has announced auction of huge lot of seized motor vehicles on January 14, 2021 at Customs House Airport road, Quetta. Following is the list of motor vehicles that would be presented for the auction: S.No. Description Parked At 1 Toyota Mark X, Chassis No. GRX120-0037293, Engine Type: 4GR-FSE, Model 2005, 2500-CC, Colour […]

by admin