KARACHI: Almost 50 percent decrease has been observed in vehicle transfer cases in Excise and Taxation Department Sindh during the current fiscal year 2014-15 as compared to the last year 2013-15.
Talking to Customs Today, an excise officer told that the department has recorded a dip in vehicle transfer as compared to last fiscal year 2013-14. Telling about the reason, he revealed that imposition of high withholding tax on the transfer of reconditioned and used vehicles during last year caused a plunge that ultimately affecting the revenue generation.
On the other hand, motor dealers had staged protest against the hike in withholding tax and their protest is still continued. A motor dealer Muhammad Israr said that government should consider the plight of motor dealers in the country and added that we have record our protest many times but govt has taken no any action in favour of the business community that depicted govt did not want to develop business in the country.
