KARACHI: Federal Board of Revenue (FBR) has warned the owners of luxury motor vehicles of harsh punishment in case they are remained non compliant and failed to declare these vehicles under Asset Declaration Scheme.
In this regard the Regional Tax Office (RTO)-II Karachi has obtained details of 13,193 luxury vehicles from Excise and Taxation department Sindh.
The owners of such vehicles have been living luxurious life without paying due taxes. The break up is under: Hilux/Vigo 9230; Land Cruisers 1605; Prado 1970; Audi 45; Mercedes Benz 272; and BMW 71.
The owners have been informed by the RTO-II regarding the opportunity provided by Assets Declaration Ordinance 2019 to disclose such vehicles and other undeclared or Benami Assets by the June , 2019 to avoid confiscation and imprisonment up to seven years.