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 … Continue reading Tax rates on unregistered new cars during 2021-2022