ISLAMABAD: Collectorate of Customs (Enforcement), Peshawar to conduct auction of old and used motor vehicles on February 09, 2023.
(more…)Tag: motor vehicle
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Tax collection from new car registration surges 67pc to Rs19 billion: FBR
ISLAMABAD: Federal Board of Revenue (FBR) has said that income tax collection from new car registration surged by 67 per cent in fiscal year 2021-2022.
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Customs Enforcement announces auction of vehicles on Nov 09, 2022
Collectorate of Customs (Enforcement) Peshawar has announced auction of motor vehicles to be held on November 09, 2022 at various state warehouses of the Collectorate.
Following is the list of vehicles to be presented for the auction at state warehouse godown, Peshawar:
01. Mercedes Benz (Bullet Proof), Model 1982, Chassis No. WDB-12603312037551
02. Toyota Fielder “X” Car, Model 2002 (As per Website), Chassis No. NZE124-0018888
READ MORE: FBR auctions confiscated immovable properties on Nov 15, 2022
04. Toyota Corolla Car, Model 1985 (As per Website), Chassis No. EE80-0060788
05. Toyota Corolla Car, Model 1988 (As per Website), Chassis No. CE90-0023057
List of vehicles to be presented for the auction at state warehouse, Mardan:
01. Toyota State Car, Model 1990 ( As per Website), Chassis No. CE96-0106153
02. Toyota Estate Car, Model 1997 (As per Website), Chassis No. CE100-0073091
03. Toyota Corolla Car, Model 1990 (As per Website), Chassis No. CE90-0050358
READ MORE: FBR issues circular to relax income tax return filing deadline
04. Toyota Double Cabin, Model 2002 (As per Website), Chassis No. MR033-UNE907004986
05. Toyota Fielder Car, Model 2004 (As per Website), Chassis No. NZE121-0327891
06. Toyota Fielder “X” Car, Model 2003 (As per Website), Chassis No. NZE121-0268084
List of vehicles to be presented for the auction at state warehouse, Nowshera:
01. Toyota Fielder “X” Car, Model 2004 (As per Website), Chassis No. NZE121-0318355
List of vehicles to be presented for auction at state warehouse godown, parked at Landikotal Colony:
01. Toyota State Car, Model 1988 (As per Website), Chassis No. CE90-0023670
READ MORE: Withholding tax rates on immovable property transactions during 2022-2023
02. Toyota Corolla Car, Model 1987 (As per Website), Chassis No. EE90-5007972
03. Toyota Pick Up, Model 1991 (As per Website), Chassis No. LN65-1190463
04. Toyota Towance, Model 1992 (As per Website), Chassis No. CR21-0170379
05. Toyota State Car, Model 1993 (As per Website), Chassis No. CE109-0016885
06. Toyota Corolla “G” Car, Model 2000 (As per Website), Chassis No. NZE121-0004457
07. Toyota Corolla Car, Model 1992 (As per Website), Chassis No. CE106-0018812
08. Toyota Towance, Model 1984 (As per Website), Chassis No. CR21-0007875
READ MORE: Tax rates on usage of phone, internet applicable during 2022-2023
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Gwadar customs auctions motor vehicles on July 28, 2022
KARACHI: Customs Collectorate, Gwadar has announced auction of motor vehicles that will be held on July 28, 2022 at Custom House, Gaddani.
READ MORE: Peshawar Customs announces auction of motor vehicles on July 26, 2022
The Collectorate will auction the following vehicles:
1. Toyota Mark-X Car, Reg. No. AFR-2020, Chassis No. GRX121-1002780, Engine No. 3GR-FSE, Model: 2004.
2. Mitsubishi Pajero, Reg No. JAR-248, Chassis No. LJ78-00151955, Engine No. –TE.
3. Pajero, Reg No. JAA-983, Chassis No. CL0048VGJ400698.
4. Hino Truck (06-Wheeler), Reg No. TTB-491, Chassis No. AK176-45387
READ MORE: MCC Gwadar to auction motor vehicles on July 18, 2022
5. Hino Truck (06-Wheeler), Reg No. TKN-647, Chassis No. FE8JLF-10064
6. Hilux Surf, Reg No. BC8774, Chassis No. VZN215-0003887, Engine No. 5VZ-FE3378(3400CC), Model: 2003
7. Corolla Axio Car, Reg No. AFT-789, Chassis No. NZE1G1-6127020, Model 2010
8. Toyota Corolla Axio Car, Reg No. AME-854, Chassis No. NZE141-6110051, Model. 2008.
9. Toyota Land Cruiser, Reg No. BD-7777, Chassis No.UZJI00-0145693, Model. 2003.
READ MORE: Customs to auction NDP vehicles on June 8, 2022
10. Toyota Hilux Surf, Reg No. 2BB-4433, Chassis No. VZN215-0004937, Model: 2003.
11. Toyota Land Cruiser, Reg No. ABB-785, Chassis No. UZJI00-0154840, Model. 2005.
12. Toyota Crown Car, Reg No. AFR-022, Chassis No: GRS182-0011883, Model: 2004.
13. Daihatsu Mira Car, Reg No. BAP-403, Chassis No. L2758-2046046, Model: 2008.
READ MORE: Lahore Customs to auction vehicles on May 26, 2022
14. Toyota Crown Car, Reg No. QIIC-3989, Chassis No. QWS204-0002009, Model: 2008.
15. Toyota Vitz Car, Reg NO: ATN-555, Chassis No. SCP90-5032180, Model. 2005.
16. Toyota Fielder Car, Reg No. JAB-118, Chassis No. NZE121-0171398, Engine No. INZ-Fe, Model, 2002.
17. Honda Civic, Chassis No. JHMFD-163095201118, Model 2009.
18. Toyota Land Cruiser Prado, Chassis No: VZJ95-0101986, Model: 2002.
READ MORE: Customs Sukkur to auction huge lot of motor vehicles
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Gwadar Collectorate auctions motor cars on May 23
GWADAR: Collectorate of Customs (Enforcement), Gwadar has announced auction of motor cars to be held on May 23, 2022 at state warehouse godown, Gwadar.
The collectorate announced auction of following motor vehicles:
01. Zamyad Pickup Model nil, Chassis No. NAZDL104TD-0068010
02. Zamyad Pickup Model nil, Chassis No. NAZPL140BJ-0501530
03. Zamyad Pickup Model nil, Chassis No. NAZPL140TB-N272445
04. Zamyad Pickup Model nil, Chassis No. NAZPL140BJ-0503834
05. Toyota Stout Pickup Model 1983, Chassis No. RK110-601814
06. Toyota Pickup S/cabin Model 1984, Chassis No. YN55-0017594
07. Toyota Pickup S/cabin Model 1984, Chassis No. YN55-0018440
08. Toyota Hilux Surf Model 2003, Chassis No. RZN215-0008039
09. Toyota Hilux Surf Model 2007, Chassis No. GRN215-8109082
10. Toyota Hilux Surf Model 1999, Chassis No. RZN185-9030039
11. Toyota Stout Pickup S/Cabin Model 1984, Chassis No. RK110-613912
12. Toyota Corrolla Model 2005, Chassis No. NZE121-0371839
13. Toyota Hilux Surf Model 1998, Chassis No. RZN185-0031909
14. Toyota Premio Model 2008, Chassis No. NZT260-3038101
15. Toyota Axio Model 2007, Chassis No. ZRE142-6008183
16. Toyota Vitz Model 2004, Chassis No. SCP13-0030163
17. Toyota Probox Model 2003, Chassis No. ZNE10-0101673
18. Toyota Land Cruiser Pickup Model 1988, Chassis No. FJ75-0043421
19. Toyota Land Cruiser Pickup Model 1988, Chassis No. FJ75-0074709
20. Toyota Land Cruiser Pickup Model 1986, Chassis No. FJ75-0038226
21. Toyota Land Cruiser Pickup Model 1988, Chassis No. FJ75-0075357
22. Hino Truck Model 1994, Chassis No. FF3HJA-50180
23. Toyota Land Cruiser VX 4X4 Model 1998, Chassis No. UZJI00-0015026
24. Toyota Hilux D/Cabin Vigo Model 2005, Chassis No. MR0FZ29G701508652
25. Toyota Land Cruiser Pickup Model 1986, Chassis No. FJ75-0040747
26. Zamyad 24 NIB Pickup S/cabin Model nil, Chassis No. NAZPL140TB0319839
27. Zamyad 24 NIB Pickup S/cabin Model nil, Chassis No. NAZPL140TBM231212
28. Toyota Land Cruiser Pickup Model 1986, Chassis No. FJ75-0043119
29. Toyota Premio Model 2003, Chassis No. ZZT245-0018897
30. Toyota Land Cruiser Prado Model 1995, Chassis No. KZJ71-0004062
31. Toyota Corolla Model 2001, Chassis No. NZE121-3042485
32. Toyota Hilux Pickup S/Cabin Model 1983, Chassis No. RN40-156765
33. Toyota Hilux Pickup S/Cabin Model 1983, Chassis No. RN40-0155452
34. Toyota Hilux Pickup S/Cabin Model 1983, Chassis No. RN40-0168695
35. Toyota Surf Model 1998, Chassis No. UZN185-0078719
36. Zamyad Pickup 24 NIB S/cabin Model nil, Chassis No. NAZPL140TH-NE06909
37. Toyota Stout Pickup S/Cabin Model 1994, Chassis No. RK110-611811
38. Hino Oil Tanker Model 1993, Chassis No. FGIHKA-50027
39. Hino Bus Model 2006, Chassis No. AKIJMKA-10688
40. Hino Bus Model nil, Chassis No. AKIJRKA-177243
41. Hino Truck Model 1999, Chassis No. FGIJPC-10097
42. Hino Truck Model 1996, Chassis No. FFIJMB-10343
43. Hino Bus Model 1990, Chassis No. 174-41105
44. Hino Oil Tanker Model 1995, Chassis No FDIJ-LB-11042
45. Hino Truck Model 2013, Chassis No. FMIJNPD-19364
46. Hino Truck Model 2005, Chassis No. FD8JLF-11877
47. Hino Bus Model nil, Chassis No. AKIJ-11063
48. Hino Oil Tanker Model 1997, Chasses No. FGIJKB-10162
49. Hino Oil Tanker Model nil, Chassis No. FGIJPB-10349
50. Zamyad Pickup Model nil, Chassis No. CSG28PRZ883427E01
51. Zamyad Pickup Model nil, Chassis No. NAZPL140TH0485804
52. Toyota Hilux Surf SSr-X (05 door) Model 1993, Chassis No. KZN130-9048371
53. Hyundai Shehzore Model nil, Chassis No. PHONSMXR 37173
54. Mini Truck Master Forland Model nil, Chassis No. MMC-02-03351
55. Toyota Land Cruiser Pick up Model 1983, Chassis No. FJ 45-367102
56. Toyota Land Cruiser Pick up Model 1986, Chassis No. FJ-75-0036340
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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 registration under Section 231(B)(2A) of the Ordinance has been increased for the persons who register such motor vehicles which have been sold prior to their first registration.
READ MORE: FBR increases income tax to 15% on cellular services
The FBR issued Circular No. 12 of 2012 to explain amendments in the Income Tax Ordinance, 2001 made through Finance (Supplementary) Act, 2022.
The purpose is to discourage huge ‘on money’ on such vehicles which are booked by investors as a result of which the vehicles remain unavailable to the genuine buyers.
READ MORE: FBR issues new FED rates on motor vehicles
New rates under Division VII of Part IV of First Schedule to the Ordinance shall be as following:
01. Motor vehicle with engine capacity up to 1000CC, the advance tax has been increased to Rs100,000 from Rs50,000.
02. Motor vehicle with engine capacity between 1001cc to 2000cc, the advance tax has been increased to Rs200,000 from Rs100,000.
03. Motor vehicle with engine capacity 2001cc and above, the advance tax has been increased to Rs400,000 from Rs200,000.
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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 is the text of Section 234 of Income Tax Ordinance, 2001:
234. Tax on motor vehicles.— (1) Any person at the time of collecting motor vehicle tax shall also collect advance tax at the rates specified in Division III of Part IV of the First Schedule.
(2) If the motor vehicle tax is collected in instalments or lump sum the advance tax may also be collected in instalments or lump sum in like manner.
(2A) In respect of motor cars used for more than ten years in Pakistan, no advance tax shall be collected after a period of ten years.
(3) In respect of a passenger transport vehicle with registered seating capacity of ten or more persons, advance tax shall not be collected after a period of ten years from the first day of July of the year of make of the vehicle.
(4) In respect of a goods transport vehicle with registered laden weight of less than 8120 kilograms, advance tax shall not be collected after a period of ten years from the date of first registration of vehicle in Pakistan.
(5) Advance tax collected under this section shall be adjustable.
“(6) For the purpose of sub-sections (1) and (2) “motor vehicle” shall include the vehicles specified in sub-section (7) of section 231B.”
(Disclaimer: The text of the above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)
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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 for a period of 90 days.
The Federal Board of Revenue (FBR) collects the withholding tax under Section 231B (2A) of the Income Tax Ordinance, 2001.
Every motor vehicle registration authority of Excise and Taxation Department shall, at the time of registration, collect tax at the rates specified in Division VII of Part IV of the First Schedule, if the locally manufactured motor vehicle has been sold prior to registration by the person who originally purchased it from the local manufacturer.
The provincial excise and taxation authorities collect tax on behalf of the FBR from persons getting new locally manufactured motor vehicles transferred in their name at the time of registration of the new motor vehicles.
WITHHOLDING TAX CARD 2021/2022
Following are the rates of withholding tax:
01. Car engine capacity up to 1000CC: the tax rate shall be 50,000; and in case the person is not on the Active Taxpayers List (ATL) the tax shall be Rs100,000.
02. Car engine capacity between 1001CC to 2000CC: the tax rate shall be Rs100,000; and in case the person is not on the ATL the rate shall be Rs200,000
03. Car engine capacity with 2001 and above: the tax rate shall be Rs200,000; and in case the person is not on the ATL the rate shall be Rs400,000
The tax collected/deducted shall be adjustable against the tax liability of the person.
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Advance tax rates on motor car purchase, registration
The advance tax rates on motor vehicle registration and purchase from manufactures for year 2021/2022 shall be:–
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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 automobiles in Pakistan have seen a sharp rise due to multiple factors, making them unaffordable for common man.
The Finance Bill 2021 proposes to rationalize the tariff structure of the automobile sector in order to address this matter in the following manner:
For motor vehicles up to 850cc, the Bill proposes to abolish import taxes including minimum value addition tax. In the case of locally manufactured vehicles with engine capacity upto 850cc, the Bill proposes to reduce sales tax from 17 percent to 12.5 percent and abolish federal excise duty.
In case of local supply of locally manufactured Electric Vehicles (EV) i.e., small cars or SUVs with battery capacity up to 50 kwh and Light Commercial Vehicles(LCV)with battery capacity up to 150 kwh, the Finance Bill 2021 proposes to levy sales tax at reduced rate of 1 percent whereas import of the same is excluded from minimum value addition tax with 25 percent reduction in custom duty till 30.06.2026.
However, import of CKD kits for these EVs is proposed to be taxed at reduced customs duty rate of 1 percent with exemption / exclusion from chargeability of sales taxand minimum value addition tax.
In addition, the Bill proposes to reduce sales tax on Hybrid Electric cars with capacity up to 1800 cc to 8.5 percent.
The Bill further proposes to reduce levy of minimum tax on turnover from 1.5 percent to 0.25 percent in case of persons engaged in sale and purchase of used vehicles while also abolishing withholding of income tax on purchase of used vehicles from general public.
However, the collection of advance tax is proposed to be made from the original purchaser who sells it without registration, at the rates ranging from Rs. 50,000 to Rs. 200,000.