LAHORE: The Car Dealers Association of Lahore has appreciated the government step to eliminate the withholding tax and transfer fee on vehicles.
Car Dealers Association Chairman Shahzada Saleem, while talking to Customs Today, said that by decreasing the transfer fees on vehicles, the government has taken a step which will be helpful for the common people. He said that 5 percent cut in withholding will increase the sale and purchase of vehicles, especially of used vehicles. The Excise and Taxation Department will get more revenue on sale and purchase of used vehicles as it will be in access of small car purchasers. It will decrease the culture of driving cars on open letter, he added.
Meanwhile, Excise and Taxation Department is facing shortfall in revenue collection of taxes on vehicles in the wake of previously increased transfer fees, token tax and registration tax.
