Pkrevenue.com

Tag: motor vehicle

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

    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 money’.

    Following withholding income tax rates have been imposed on motor vehicles:

    01. Tax rate at Rs50,000 has been imposed on sale of up to 1000CC motor vehicles.

    02. Tax rate at Rs100,000 has been imposed on sale of motor vehicles between 1000CC and 2000CC.

    03. Tax rate up to Rs200,000 has been imposed on motor vehicles with engine capacity of 2000CC and above.

    In order to apply the rates an amendment to Section 231B of Income Tax Ordinance, 2001 has been made.

    Following is the text of the amendment:

    “Every motor vehicle registration authority of Excise and Taxation Department shall collect advance tax from the buyers of locally manufactured motor vehicles who subsequently sell it within ninety days of delivery of such vehicle whether prior to or after registration.”

    The FBR said that no collection of the withholding tax under the new amendment would be made after June 30, 2021.

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

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

    KARACHI: The collection of advance tax from the registration of new motor vehicles recorded a remarkable growth of 62 percent during the first half (July–December) of the current fiscal year (1HFY21), reflecting a rebound in economic activity and renewed demand in the automobile sector.

    (more…)
  • Pakistan Customs announces auction of huge lot of motor vehicles on Jan 14

    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.DescriptionParked At
    1Toyota Mark X, Chassis No. GRX120-0037293, Engine Type: 4GR-FSE, Model 2005, 2500-CC, Colour WhiteSheela Bagh
    2Nissan X Trail Jeep, Chassis No. NT30-020555, Model 2001, Colour WhiteManikhawa
    3Nissan X Trail Jeep Chassis No. NT30-077946, Engine No. QR20(DE), 1998-CC, Model 2003, Colour GoldenLakpass
    4BMW Car, Chassis No. WBADD42090BV14330, Engine Type: M52 Model 1997, Colour BlackLakpass
    5Zamyad Pickup Chassis No.NAZPL140TJ-0512674 Engine Z24-779543ZLakpass
    6Zamyad Pickup Chassis No.NAZPL140TH-0465983 Engine Z24-730256ZLakpass
    7Zamyad Pickup Chassis No.NAZPL140TH-0464989 Engine Z24-729303ZLakpass
    8Zamyad Pickup Chassis No.NAZPL140BT-0506537 Engine Z24-771612ZLakpass
    9Zamyad Pickup Chassis No.NAZPL140TH-0466790 Engine Z24-730951ZLakpass
    10Toyota Probox DX, Chassis No. NCP51-009164, Model 2003, Colour WhiteManikhawa
    11Nissan Car (Automatic), Chassis No. QG10-011435, Engine NO. DG18-347228, Model 2000Sheela Bagh
    12Kawasaki Motorcycle, Chassis No. 8945A-1, Engine No. ZRT00DEO14545, Model 2007, HP 1000-CC Colour BlackFC
    13DX Corolla Binjo Chassis NO. CE107-0006474, Engine NO. NTA, Model 2000 Colour SilverManikhawa
    14Toyota Litace, Chassis No. CM30-0012463, Engine No. 2CT-080945, Model 1987Lakpass
    15Car Saracha (RHD), Chassis No. AE100-0197878, Engine No. SHC194187, Model 1996 Colour TrimDalbandin
    16Saracha Car, Chassis No. GT196-0005336, Engine Type: NTAChaman
    17Toyota Pickup Single Cabin (LHD) Chassis No.YN57-0020059 Model 1984Taftan
    18Toyota Premio Car Chassis No.ZZT240-0139308 Engine Type 1ZZFE 1797 CC Model 2007Baleli
    19Toyota Probox Car, Reg No. AZA-229 (FAKE), Chassis No. NCP58-0035251, Eng No. 1RZ8358229, Model. 2004 as per seat belt, Color. Silver, H/p. 1500cc as per trim plateYaroo
    20Toyota Altis Chassis No.MRO53ZEE106113129 Model 2008 Engine No. 3ZZFE 1600 CCLakpass
    21Toyota Mark X, Chassis NO. GRX120-0003526, Engine NO. NTA, Model 2004, Colour White, 2500-CCKolpur
    22Toyota Mark X Chassis No.GRX120-0044423 Model 2005 Engine 4GR-FSE 2500 CCLakpass
    23Toyota Pickup S/Cabin (LHD), Chassis No. YN55-0003868, Engine No.2Y-0351680, Model 1984Noshki
    24Toyota Mark X, Chassis No. GRX130-6040658, Engine Type: 4GR-FSE, Model 2011, 2500-CC, Colour BlackSheela Bagh
    25Suzuki Alto Car Chassis No.HA23S-708711 Model 2003 Engine K6A 660 CCBaleli
    26Trailer 14 Wheeler, alongwith 2 x Containers, Chassis No. 0688058, Engine Type: 32233Chaman
    27Toyota Corolla Altis, Chassis No.MR053ZEE106126143, ENGINE No.3ZZ-FE, Model No.2008Lakpass
    28Toyota Premio Car, Chassis No.ZZT240-0052728, Engine No. Nil, Model 2002Manikhawa
    29Toyota Hilux Surf, Chassis No.TRN215-0018085, Engine No.2TR-FE, Model 2007Lakpass
    30Mercedez Benz Car 02 Door Chassis No.041173 Engine 15486372 3975CC Model 1977Yaroo
    31Toyota Land Cruiser Chassis No.UZJ200-4016488 Model 2008Darakshan
    32Toyota Prius Car Chassis No.ZVW30-1065825 Engine 2ZR-2541406 Model 2009Manikhawa
    33Toyota Vitz Car Chassis No.KSP90-5118205 Engine 1KRFE 1000 CC Model 2008FC Qilla Muslim Bagh
    34Toyota Probox Car Chassis No.NCP51-0027271 Engine A735421 Model 2003Rakhni
    35Toyota Fielder Car Chassis No.NZE121-0211059 Engine 2653235 Model 2003FC 139 Wing Mekhtar
    36Toyota Vitz Car Chassis No.SCP13-0020468 Engine 2SZFE 1300 CC Model 2002Manikhawa
    37Toyota Fielder Car Chassis No.ZZE122-0161681 Model 2004Lakpass
    38Toyota Land Criuser Prado (03-Doors) Chassis No.VZJ90-0003895 Engine 5VZFE 3400 CC Model 1998Lakpass
    39Toyota Passo Car Chassis No.KGC10-0001215 Engine 1KRFE 996 CC model 2004Yaroo
    40Toyota Surf Chassis No.VZN215-0002124 Model 2002Preventive Saryab
    41Toyota Hilux Surf Chassis No.RZN215-0005494 Engine 3RZFE Model 2003Chaman
    42Toyota Corolla G Car Chassis No.NZE121-3201930 Engine A-814419 Model 2003Manikhawa
    43Toyota Vitz Car Chassis No.NCP10-0171543 Engine 2NZFE 1300 CC Model 2002FC Qilla Chaman
    44Suzuki carry pickup Chassis No.DC51T-405455 Model 1995Yaroo
    45Toyota Probox Car Chassis No.NCP51-0136114 Model 2006Rakhni
    46Toyota Land Cruiser Prado TZ Chassis No.GRJ151-0001901 4000 CC Model 2010Lakpass
    47Motorcycle BMW GS650 Chassis No.WB10218029ZT33715 Model 2008Lakpass
    48Toyota Probox Car Chassis No.NLP51-0002178 Engine 1NDTV Model 2002Baleli
    49Toyota Fielder Car Chassis No.NZE121-0263427 Engine FEC-013761 Model 2003Manikhawa
    50Toyota Succeed RHD Car Chassis No.NCP51-0070762 Engine 1NZFE Model 2004Noshki
    51Toyota Succeed RHD Car Chassis No.NCP51-0070243 Engine 1NZFE Model 2004Noshki
    52Toyota Succeed RHD Car Chassis No.NCP58-0041261 Engine 1NZFE Model 2005Noshki
    53Toyota Probox RHD Chassis No.NCP51-0051331 Engine 1NZFE Model 2003Noshki
    54Toyota Corolla Axio Car Chassis No.NZE141-6016512 Engine 1NZFE Model 2007Manikhawa
    55Toyota Vitz Car Chassis No.SCP90-5152945 Engine 2SZFE Model 2010Manikhawa
    56Toyota Passo Car Chassis No.KGC30-0041958 Engine 1KRFE Model 2010Manikhawa
    57Toyota Fielder X Car Chassis No.NZE121-0299371 Engine 1NZB-234993 Model 2004Manikhawa
    58Toyota Corolla G Car Chassis No.NZE121-3211944 Engine 1NA8565 Model 2003Manikhawa
    59Toyota Corolla G Car Chassis No.NZE121-3215083 Engine 1NZA870887 Model 2003Manikhawa
    60Toyota Vitz Car Chassis No.SCP90-5165408 Engine 2SZFE Model 2010Manikhawa
    61Toyota Vitz Car Chassis No.SCP13-0012428 Engine 2SZFE Model 2003Manikhawa
    62Suzuki Swift Car Chassis No.ZC72S-113698 Engine K12B Model 2010Manikhawa
    63Toyota Vitz Car Chassis No.SCP13-0003605 Engine 2SZFE Model 2003Manikhawa
    64Toyota Yaris Vitz Car Chassis No.NCP90-2067396 Engine 2NZFE Model 2008Manikhawa
    65Toyota Probox Car Chassis No.NCP51-0208458 Engine 1NZFE 1500 CC Model 2008FC Qilla Muslim Bagh
    66Toyota Vitz Car Chassis No.SCP10-0366252 Model 2002Baleli
    67Toyota Passo Car Chassis No.KGC30-0022329 Model 2010FC Qilla Chaman
    68Dodge Caliber Chassis No.IB3C34HAIAD583828 Model NILLakpass
    69Toyota Vitz Car Chassis No.SCP13-0039838 Model 2004Manikhawa
    70Suzuki Jimny Chassis No.JB33W-116173 Engine M13A-1099828 Model 2000Manikhawa
    71Toyota Crown Majesta Car Chassis No.GRS128-1006069 Engine 3GR-FSE Model 2005Manikhawa
    72Toyota Vitz Car Chassis No.SCP90-5087763 Engine 2SZFE Model 2008Manikhawa
    73Toyota Premio Car Chassis No.ZRT260-3074250 Engine 2ZRFAE Model 2010Lakpass
    74Suzuki Alto Car Chassis No.HA24V-114673 Model 2007NLC
    75Toyota Premio Car Chassis No.ZZT240-0133141 Engine 1ZZFE Model 2006HQ
    76Toyota Land Cruiser (Cygnus) Chassis No.UZJ100-0155727 Engine 2UZFE 4663 CC Model 2005Lakpass
    77Toyota Corolla Car Chassis No.JTDBT-22E400390525 Engine 1NZFE Model 2006Lakpass
    78Toyota Fielder Car Chassis No.NZE121-0345605 Engine 1NZFE 1500 CC Model 2005FC Qilla Chaman
    79Toyota Corolla Altis Car Chassis No.JTDBT-22E203318012 Engine 1NZFE 1500 CC Model 2005Lakpass
    80Toyota Haice Van Chassis No.TRH112-0014389 Engine 1TRFE 2000 CC Model 2004Yaroo
    81Toyota Vitz Car Chassis No.SCP13-0049563 Engine 2SZFE 1300 CC Model 2004Lakpass
    82Titan Mazda Chassis No.WELAT-428298 Engine 261582 Model 1989Manikhawa
    83Toyota Premio Car Chassis No.ZRT260-3028690 Engine 2ZRFE Model 2007FC Qilla Chaman
    84Toyota Corolla G Car Chassis No.NZE121-3191191 Model 2003Manikhawa
    85toyota Aqua Car Chassis No.NHP10-6359116 Engine 1NZFXE Model 2014Manikhawa
    86Toyota Vitz Car Chassis No.SCP13-0037723 Engine 2SZFE Model 2004Lakpass
    87Hino Truck Chassis No.FG1HMA-10170 Model 1991Yaroo
    88Toyota Vitz Car Chassis No.SCP13-0039186 Engine 2SZFE Model 2004Manikhawa
    89Toyota Vitz Car Chassis No.SCP13-0044387 Engine 2SZFE Model 2004Manikhawa
    90Toyota Fielder Car Chassis No.NZE141-9039348 Engine 1NZ-0608003 Model 2007Manikhawa
    91Hino Dumper 10 Wheeler Chassis No.GN1FMB-10114 Model 1993Baleli
    92Toyota Succeed Car Chassis No.NCP51-0028587 Engine1NZFE Model 2003Darakshan
    93Toyota Corolla X Car Chassis No.NZE121-3315463 Engine 1NZFE Model 2005FC Qilla Chaman
    94Toyota Aqua Car Chassis No.NHP10-2063669 Engine 1NZFXE Model 2012Yaroo
    95Toyota Hilux Surf Chassis No.VZN215-0004073 Engine 5VZFE 3400 CC Model 2003Chaman
    96Toyota Premio Car Chassis No.ZZT240-0055101 Engine 1NNFE Model 2002Lakpass
    97Toyota Hilux D/Cabin Pickup Chassis No.MROFZ22G601174138 Engine 1KDFTV Model 2010Yaroo
    98Toyota Fielder Car Chassis No.NZE121-3374852 Engine 1NZFE Model 2006Lakpass
    99Toyota Succeed Car Chassis No.NCP51-0084757 Engine1NZFE Model 2004Darakshan
    100Toyota Coaster Chassis no.XZB50-0051400 Engine N04C Model 2005FC Qilla Chaman
    101Toyota Coaster Chassis no.JTGEG-538300001730 Engine N04C Model 2006FC Qilla Chaman
    102Toyota Coaster Chassis no.JTGEG-538500001616 Engine N04C Model 2005FC Qilla Chaman
    103Toyota Fielder Car Chassis No.NZE121-0213471 Engine 1NZ-A336028 Model 2003Manikhawa
    104Zamyad Pickup S/Cabin Chassis No.NAZPL140BJ0507900 Engine 773324Z Model 1988Dalbandin
    105Zamyad Pickup S/Cabin Chassis No.NAZPL140TH0467274 Engine Z24731654Z Model 1987Dalbandin
    106Toyota Premio Car Chassis No.ZRT260-3080511 Model 2011Lakpass
    107Roll Royce Car Chassis No.SCAZS0000BCH02073 Model 1981Lakpass
    108Toyota Premio Car Chassis No.ZRT260-3023901 Model 2007Lakpass
    109Toyota Corolla Axio Hybrid Chassis No.NKE165-7078958 Model 2014Lakpass
    110Zamyad Pickup Chassis No.NAZPL140-TH0467786 Engine Z24732472Z Model NTADarakshan
    111Toyota X Corolla Car Chassis No.NZE121-3154208 Engine 1NZFE Model 2002NLC
    112Toyota Corolla Altas GLI Car Chassis No. NZE140-2069619, Engine No.2NZFE (1300CC), Model 2010Lakpass
    113Toyota Corolla Altas Car Chassis No. JTDBT22EX03080071, Engine No.1NZFE (1500CC), Model 2001Chaman
    114Toyota Land Cruiser Prodo Chassis No.VZJ121-0008477 Engine 5VZFE 3400 CC Model 2003MTO
    115Toyota Hilux D/Cabin Chassis No.7A433LN8508503149 Engine 2L-9209571 Model 1996Manikhawa
    116Toyota Hilux D/Cabin Chassis No.7A433LN8508502128 Engine 3128616 Model 1995Manikhawa
    117Toyota Probox Car (without passanger Seat), Chassis No. NCP58-0017955, Engine No.C-932045 (1496CC), Model 2002Rakhni
    118Toyota Hiace Van, Chassis No.LH110-0001038, Engine No. 3L-3855678, Model 1991 Color WhiteRakhni
    119Toyota Probox, Chassis No. NCP51-0054967, Engine No.1NZFE, Model.2004 (1500cc)Lakpass
    120Toyota Hilux Surf Pickup S/Cabin, Chassis No.MR031-UNE905010930, Engine No.3ZRFE (2700CC), Model 2003FC Qilla Chaman
    121Toyota Vitz Car, Chassis No.SCP13-0041811, Engine No. Not traceable Model 2004Lakpass
    122Toyota Corolla G Car Chassis No.NZE121-3356046 Engine 1NZFE Model 2006NLC
    123Suzuki Alto Car, Chassis No. HA36S-233223, Engine No.R06A (660CC) Model 2015Dalbandin
    124Toyota Fielder Car, Chassis No. NZE121-3350876, Engine No.1NZFE (1500CC) Model 2006Yaroo
    125Toyota Corolla G Car, Chassis No. NZE121-3202016, Engine No.1NZFE (1500CC) Model 2003Manikhawa
    126Toyota Fielder Car, Chassis No. NZE121-0250468, Engine No.1NZFE (1500CC) Model 2003Yaroo
    127Suzuki Alto Car, Chassis No.HA25S-789180, Engine No.K6A (660CC) Model 2011Chaman
    128Toyota Raum Car, Chassis No.NCZ20-0076832, Engine No.1NZFE (1500CC) Model 2005Yaroo
    129Daihatsu Mira, Chassis No. LA300S-1133910, Engine No.N/A (658CC), Model 2012Chaman
    130Toyota Corolla Luxel, Chassis No.ZZE122-3009359, Engine No.1ZZ-FE, Model 2001 Pearl WhiteManikhawa
    131Toyota Prius Car, Chassis No. NHW20-0006543, Engine No.1NZ-FXE, Model 2003Manikhawa
    132Toyota Corolla Car, Chassis No. NZE121-0193194, Engine No.1NZ-FE, Model 2002Yaroo
    133Toyota X Corolla Car, Chassis No. NZE121-3365297, Engine No.1NZ-FE (1500CC), Model 2006Manikhawa
    134Toyota X Corolla Car Chassis No.NZE121-3388220 Model 2006Lakpass
    135Toyota Premio Car Chassis No.ZRT260-3037869 Model 2008Lakpass
    136Nissan Fairlady Z Car, Chassis No.Z33-003723, Engine No.VQ35(DE) Model 2002Chaman
    137Toyota Aqua Car, Chassis No.NHP10-2076365, Engine No.1NZFXE (1500cc) Model 2012Manikhawa
    138Toyota Vitz Car, Chassis No.SCP90-2075010, Engine No.2SZFE (1300cc) Model 2009Manikhawa
    139Toyota Corolla X Car, Chassis No.NZE121-3236952, Engine No.A-410661 (1500cc) Model 2003Manikhawa
    140Daihatsu Mira, Chassis No. LA300A-1024611, Engine No.KF-VE4 (658CC), Model 2014Lakpass
    141Toyota Vitz Car, Chassis No.NSP130-2143524, Engine No.2NR-FE (1300cc) Model 2013Manikhawa
    142Toyota Probox Car, Chassis No.NCP51-0086082, Engine No.N/A (1500cc) Model 2004Lakpass
    143Toyota S/Cabin, Chassis No.LN56-0081490, Engine No.2L (2400cc), Model 1986FC Qilla Chaman
    144Toyota Aqua Car, Chassis No.NHP10-2155250, Engine No.1NZ-FXE (1500cc), Model 2013Darakshan
    145Toyota Vitz Car, Chassis No.NSP130-2094768, Engine No.1NRFE (1300cc), Model 2012NLC
    146Toyota Vitz Car, Chassis No.SCP13-0002728, Engine No.2SZFE (1300cc), Model 2003Lakpass
    147Toyota Dyna Mazda, Chassis No.LY211-0012204, Engine No.2L , Model 1996Manikhawa
    148Toyota Axio X Car, Chassis No.NZE141-6001521, Engine No.1NZ-FE, Model 2006Mobile Squad
    149Toyota Vitz Car, Chassis No. SCP90-5159655, Engine No.2SZ-FE, Model 2010Mobile Squad
    150Toyota Hilux Pickup, Chassis No.MR033LNE709000400, Engine No.5L (3000cc), Model.2000Chaman
    151Honda Civic, Chassis No.FD3-1002416, Engine No.DAA-FD3 (1800CC), Model 2008Chaman
    152Lexus Sports Plus LX-570 Chassis No.URZ201-4194167 Model 2015HQ
    153Toyota Vitz Car, Chassis No.SCP90-5091576, Engine No.2SZ-FE, Model 2008 (1300cc)Manikhawa
    154Toyota Vitz Car Chassis no.NCP10-0185065 Model 2002Baleli
    155Toyota Axio Car, Chassis No.NZE141-6036324, Engine No.1NZ-FE, Model 2007 (1500cc)Chaman
    156Toyota Vitz Car, Chassis No.SCP90-2073258, Engine No.2NZ-FE, Model 2008 (1300cc)Manikhawa
    157Toyota Vitz Car, Chassis No.ZRT260-3010004, Engine No.2ZR-FE, Model 2007 (1800cc)Lakpass
    158Zamyad Pickup, Chassis No.NAZPL140TKS-0519146, Engine No.Z24170400-ZSurab
    159Zamyad Pickup, Chassis No.NAZPL140TH-0468824, Engine No.Z24734190-ZSurab
    160Suzuki Alto Car,Chassis No.HA35S-208943, Engine No.R06A, Model 2014Dalbandin
    161Toyota Prius Car (Hybrid) Chassis No.ZVW30-1459932, Model 2011Lakpass
    162Toyota Prius Car (Hybrid) Chassis No.ZVW30-5120416, Model 2009Lakpass
    163Toyota Vitz Car, Chassis No.SCP13-0041811, Model 2004 (1300cc)Mobile Squad
    164Toyota Land Cruiser Prado Car, Chassis No.VZJ121-0002271, Model 2002 (3400cc)Lakpass
    165Toyota Vitz Car, Chassis No.SCP90-5175001, Engine No.2SZ-FE Model 2010 (1300cc),Chaman
    166Toyota Surf Chassis No.VZN215-0003375 Engine 5E2-FE 3400 CC Model 2003MTO
    167Toyota Premio Car, Chassis No.ZRT240-3015122, Engine No. 2ZR-FE (1800cc), Model 2007Lakpass
    168Toyota Premio Car Chassis No.ZRT261-3015722 Engine 3ZRFAE 1986 CC Model 2010FC Qilla Chaman
    169Toyota Prius Car Chassis No.ZVW30-1041801 Engine No.2ZR-FXE (1800 CC) Model 2009Lakpass
    170Toyota Pickup Single Cabin, Chassis No.LN41-0005970, Engine No.2L2384, Model 1988Chaman
    171Honda Civic Car, Chassis No. FD3-1005692, Eng Code: LDA HP: 1500cc, Model: 2006, Color: WhiteMobile Squad
    172Toyota Vitz Car, Chassis No. SCP90-2049660, Engine No.2SZFE (1300cc) Model 2008Yaroo
    173Honda Civic Car, Chassis No. JHMFD16309S200195, Model: 2009Baleli
    174Toyota Vitz Car, Chassis No. KSP90-5066751, Engine No.1KR-FE (1000cc) Model 2006Manikhawa
    175Suzuki Swift Car Chassis No.ZC71S-416635, Model 2007Manikhawa
    176Toyota Premio Car, Chassis No.ZRT260-3023853, Engine No.2ZR-FE, Model 2007Mobile Squad
    177Toyota Prado (Accidented) Chassis No.VZJ121-0008506 Model 2003Police Bhosa Mandi
    178Suzuki Swift Reg No. QAY-677, Chassis No. ZC71S-423095, Model: 2007, Color: WhiteManikhawa
  • Inland Revenue examines persons buying motor vehicles through customs auction

    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 participating in bidding and buying large number of vehicles.

    The FTO in a case of stuck up motor vehicles at ports, which were brought into Pakistan through personal baggage, transfer of residence or under gift schemes in violation of SRO 52(I)/2019 dated January 15, 2019 issued by the ministry of commerce.

    As per details till November 25, 2020 the number of stuck up vehicles were 587 at the MCC East and West. Around 167 vehicles were auctioned till the date under review.

    During the investigation of the case the FTO was told that a small number of so-call professional bidders purchased large number of vehicles regularly and then sell the same on huge profit in the open market.

    “One of the reasons of purchase of vehicles by these bidders is that many interested persons from the general public either do not possess NTN or they don’t want to bring their names on record due to various reasons including subsequent taxation, hence, they prefer to purchase goods or vehicles through these bidders,” the FTO was informed.

    The FTO was further informed that 62 bidders had purchased 167 vehicles auctioned during the period from July to November 2020, which 20 bidders purchased 117 vehicles.

    The sources said that the FTO was told that an e-auction was to be introduced by the FBR and in this regard SRO 1174(I)/2020 dated October 26, 2020 was already issued.

    However, date for implementation of e-auction rules would not be notified by the FBR later on as the e-auction module is still under development.

    Customs authorities assured the FTO stating that after implementation of e-auction, the goods ripe for auction would be disposed of without delay, besides, the mafia of professional bidders would be addressed, resulting in improvement in revenue realization.

    The findings of the FTO revealed: “During investigation, another aspect came to surface i.e. whether the bidders who participate in the auction proceedings declare their economic activities in their income tax returns.

    “It is most probable that these economic activities may not be monitored by the IRS Wing, which if monitored carefully with due diligence may enhance legitimate revenue of the government.

    “Thus, there is a need to share data/information with the concerned field formations of Inland Revenue so that this sector is brought into the tax net.”

    The FTO recommended that the Collector, MCC Appraisement and Facilitation East and West, Karachi to pass on information about the bidders who participated in auctions on regular basis to respective IRS field formations.

  • FBR obtains information of motor vehicle buyers

    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.

    (more…)
  • Valuation procedure for undeclared motor vehicles

    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.

    (more…)
  • Withholding tax rates on registration, transfer of motor vehicles updated

    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 private motor vehicles

    Under this section motor vehicle registration authority shall collection withholding tax from persons getting new locally manufactured motor at the time of vehicle transferred in their name at the time of registration of new motor vehicle.

    The withheld tax shall be adjustable against liability.

    The tax rate shall be increased by 100 percent for persons not appearing on the Active Taxpayers List (ATL).

    The withholding tax rates under this section shall be:

    Engine CapacityFor ATLFor Non-ATL
    Up to 850CCRs7,500Rs15,000
    851CC to 1000CCRs15,000Rs30,000
    1001CC to 1300CCRs25,000Rs50,000
    1301CC to 1600CCRs50,000Rs100,000
    1601CC to 1800CCRs75,000Rs150,000
    1801CC to 2000CCRs100,000Rs200,000
    2001CC to 2500CCRs150,000Rs300,000
    2501CC to 3000CCRs200,000Rs400,000
    Above 3000CCRs250,000Rs500,000

    Withholding tax under Section 231B(1A)

    Every leasing company, scheduled bank, investment bank development finance institution, non-banking finance institution, MODARBA (Sharia compliant or under conventional mode) shall collect withholding tax from lessee at the time of lease.

    The withheld tax shall be adjustable.

    The tax rate shall be 4 percent of the value of motor vehicle on leasing of motor vehicle to persons not appearing in the Active Payers’ List.

    The withholding tax rates under Section 231B (2)

    Motor Vehicle Registration Authority shall collect withholding tax from person transferring the ownership / registration at the time of transfer.

    The withheld tax shall be adjustable against the liability.

    The rate of tax under sub-section (2) of section 231B shall be as follows-

    Engine CapacityFor ATLFor Non-ATL
    Up to 850CCRs0Rs0
    851CC to 1000CCRs5,000Rs10,000
    1001CC to 1300CCRs7,500Rs15,000
    1301CC to 1600CCRs12,500Rs25,000
    1601CC to 1800CCRs18,750Rs37,500
    1801CC to 2000CCRs25,000Rs50,000
    2001CC to 2500CCRs37,500Rs75,000
    2501CC to 3000CCRs50,000Rs100,000
    Above 3000CCRs62,500Rs125,000

    The withholding tax rates under Section 231B (3)

    Manufacturer of motor vehicle shall collect withholding tax from purchaser at the time of sale of vehicle.

    The withheld tax shall be adjustable against tax liability.

    The withholding tax rates under Division VII, Part IV of First Schedule of the Income Tax Ordinance, 2001 are as follow:

    Engine CapacityFor ATLFor Non-ATL
    Up to 850CCRs7,500Rs15,000
    851CC to 1000CCRs15,000Rs30,000
    1001CC to 1300CCRs25,000Rs50,000
    1301CC to 1600CCRs50,000Rs100,000
    1601CC to 1800CCRs75,000Rs150,000
    1801CC to 2000CCRs100,000Rs200,000
    2001CC to 2500CCRs150,000Rs300,000
    2501CC to 3000CCRs200,000Rs400,000
    Above 3000CCRs250,000Rs500,000
  • New slab for withholding tax on motor vehicle purchase recommended

    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 new rate of withholding tax on purchase of motor vehicle engine capacity below 850CC.

    At present the FBR is collecting Rs7500 as withholding tax on registration of new motor vehicle engine capacity up to 850CC. The RTO-II Karachi proposed to exempt withholding tax on vehicles of engine capacity up to 250CC.

    The tax office suggested to create slab of Rs3,000 for registration of new motor vehicles with engine capacity between 251CC to 650CC.

    Similarly, the RTO-II Karachi also suggested to bring change slabs of withholding tax rate on transfer of ownership of motor vehicles.

    At present motor vehicles up to 850CC is exempted from tax at the time of transfer first tax rate is applicable at Rs5000 on engine capacity between 851CC to 1000CC.

    The RTO-II Karachi suggested that the withholding tax rate should be exempted on transfer of motor vehicle up to 650CC. The tax office suggested that the tax rate for first slab should be Rs5000 for the motor vehicle transfer of engine capacity between 651CC to 1000CC.

    The regional tax office recommended change in slabs of motor vehicle tax. Whereas, at present the motor vehicle tax on engine capacity up to 1000CC is Rs800.

    The tax office proposed that motor vehicle tax rate should be exempted on vehicle with engine capacity up to 250CC. Meanwhile, the motor vehicle tax should be Rs800 on engine capacity between 251CC to 1000CC.

  • FED on locally manufactured vehicles proposed to be withdrawn

    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 vehicle (Motor car & SUVs, 8703 category) as follows:

    VehiclesFED
    Up to 3 to 1000CC2.5 percent
    1001CC to 2000CC5 percent
    2000CC and above7.5 percent

    The OICCI said that this had resulted in significant increase of the sales price of the vehicles with consequential reduction in sales volume of the respective vehicle categories.

    The OICCI recommended that levy of FED on locally manufactured vehicles should be withdrawn by deleting the Serial No. 55B of Table I of First Schedule to the Federal Excise Act, 2005.

    The OICCI also suggested changes in advance income tax collected on various engine capacity.

    Currently, as per table under Division VII of Part IV of First Schedule, following advance tax under section 231 B is collected by manufacturers on the following categories of vehicles:

    Engine CapacityTax
    1001CC to 1300CCRs25,000
    1301CC to 1600CCRs50,000

    The OICCI said that presently most of the locally manufactured sedans passenger cars fall slightly above the 1300CC categories which includes Honda City (1339CC) etc. This slightly higher engine capacity size results in these vehicles falling in higher tax bracket making it more expensive with higher upfront cost to customers.

    The OICCI recommended that amendment should be made in the categories of vehicles mentioned in Division VII of Part IV of First Schedule as follows:

    Engine CapacityTax
    1001CC to 1350CCRs25,000
    1351CC to 1600CCRs50,000

    The OICCI highlighted levy of additional customs duty (ACD). It said that ACD was levied through SRO 1178(I)/2015 on various items, including raw materials at one percent which was enhanced to two percent through SRO 630(I)/2018. Through SRO 670(I)/2019, levy of ACD was further enhanced and slab wise ACD was introduced as follows:

    Tariff SlabAdditional Customs Duty
    Tariff Slab of 0%, 3% and 11%2%
    Tariff slab of 16%4%
    20% and higher7%

    The OICCI proposed to exempt imports under SRO 655(I)/2006 & SRO 656(I)/2006 from ACD.

  • FBR gets CNIC details of motor vehicle buyers

    FBR gets CNIC details of motor vehicle buyers

    KARACHI: Motor vehicle manufacturers and dealers have shared details of Computerized National Identity Card (CNIC) of buyers with the Federal Board of Revenue (FBR), sources said on Monday.

    The sources said that the FBR has received the information of buyers who made purchases during first half (July – December) of current fiscal year.

    Besides manufacturers and dealers of motor vehicles, registration authorities, banks and leasing company have also provided details of buyers for the period.

    The FBR gets details of purchasers, included: name and address of purchaser/lessee; NTN/CNIC of purchaser/lessee; registration of number of motor vehicle; motor vehicle make, model, engine capacity; year of manufacture; date of first registration of the vehicles in Pakistan; registered capacity/laden weight of the vehicle; and ex-factor price of motor vehicle.

    The withholding agents as defined above are liable to collect withholding tax under Section 231B of the Income Tax Ordinance, 2001.

    As per Section 231 of the Ordinance, every motor vehicle registering authority of Excise and Taxation Department shall collect advance tax at the time of registration of a motor vehicle.

    Further, every leasing company or a scheduled bank or non-banking financial institution or an investment bank or a modaraba or a development finance institution, whether sharia compliant or under conventional mode, also require to collect withholding tax at the time of leasing of motor vehicle.

    The FBR sources said that huge undeclared money was used for purchase of motor vehicles. Therefore, the FBR will identify persons on the basis of information received, who are not in the tax net.

    As per Section 114 of the Income Tax Ordinance, 2001 every person own 1000CC and above motor vehicles are required to file annual income tax return.