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 Mrs. Anjum Shahnawaz

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 Mrs. Anjum Shahnawaz

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 Mrs. Anjum Shahnawaz

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 Mrs. Anjum Shahnawaz

Inland Revenue examines persons buying motor vehicles through customs auction

Jan 4

Auction, Taxation

Inland Revenue examines persons buying motor vehicles through customs auction

KARACHI: The office of Inland Revenue (IR) of Federal Board of Revenue (FBR) has launched examination of persons who purchased large number of vehicles through customs auctions. Sources in IR said on Monday that the probe had been initiated on the directives of the Federal Tax Ombudsman (FTO) regarding some bidders were frequently indulged in […]

by Mrs. Anjum Shahnawaz

FBR obtains information of motor vehicle buyers

Nov 28

Taxation

FBR obtains information of motor vehicle buyers

The Federal Board of Revenue (FBR) is taking significant steps to obtain detailed information about motor vehicle buyers from manufacturers.

by Mrs. Anjum Shahnawaz

Valuation procedure for undeclared motor vehicles

Nov 22

Taxation

Valuation procedure for undeclared motor vehicles

The Federal Board of Revenue (FBR) has outlined a detailed procedure for the valuation of motor vehicles identified as undeclared or concealed assets in the Income Tax Rules, 2001.

by Mrs. Anjum Shahnawaz

Withholding tax rates on registration, transfer of motor vehicles updated

Aug 13

Taxation

Withholding tax rates on registration, transfer of motor vehicles updated

ISLAMABAD: Federal Board of Revenue (FBR) has updated withholding tax rates on registration and transfer of motor vehicles for tax year 2021. The FBR updated the withholding tax card 2020-2021 (up to June 30, 2020) incorporating amendments made to Income Tax Ordinance, 2001 through Finance Act, 2020. The withholding tax rate under Section 231B on […]

by Mrs. Anjum Shahnawaz

New slab for withholding tax on motor vehicle purchase recommended

May 25

Budget 2020-2021, Taxation

New slab for withholding tax on motor vehicle purchase recommended

KARACHI: Regional Tax Office (RTO) – II Karachi has recommended revision in slab for withholding tax collection on purchase of new motor vehicles from next fiscal year. The RTO-II Karachi in its proposals for budget 2020/2021 suggested revision in existing slabs for withholding tax collection on motor vehicles. The RTO-II Karachi proposed to create a […]

by Mrs. Anjum Shahnawaz

FED on locally manufactured vehicles proposed to be withdrawn

May 10

Automotive, Budget 2020-2021

FED on locally manufactured vehicles proposed to be withdrawn

KARACHI: Local automobile manufacturers have urged the Federal Board of Revenue (FBR) to withdraw federal excise duty, which will help in rationalizing prices in domestic market. Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2020/2021 said that the Finance Act, 2019 revised FED on all categories of locally manufactured motor […]

by Mrs. Anjum Shahnawaz