ISLAMABAD: Federal Board Revenue (FBR) would increase the fixed rate for the clearance of imported used vehicles, instead of raising the tax on locally made cars and other commercials vehicles, it is learnt.
Source said that FBR has decided not to increase tax rates on cars and other commercial vehicles, which are produced in Pakistan.
According to the details, FBR has prepared a draft suggesting an increase in rates of regulatory taxes imposed on different items, while the suggestions will be presented before Economic Coordination Committee (ECC) on November 30.
The sources told that FBR has however decided not to impose/increase any regulatory duty on the import of used car and commercial vehicles.
They added that importers will have to pay extra customs duty and sales tax after an increase in fixedrate for clearance of imported vehicles
