ISLAMABAD: The Federal Board of Revenue (FBR) has opposed the proposal for the establishment of new plants for the 1500cc vehicles.
According to sources, the Ministry of Industries and Production (MOIP) has proposed the establishment of new plants for the 1500cc vehicles and also proposed to decrease the prices for 1500cc vehicles in the new auto policy.
On the other hand, the FBR has opposed the proposal prepared by the MOIP and said that Pakistan has already low prices of 1500cc vehicles as compared to India, therefore, the prices of 1500cc vehicles couldn’t be decreased further in Pakistan.
Sources further told Customs Today that the MOIP also proposed that new investors should be facilitated for at least two years in import duty which should be 10 percent and after two years, the FBR can increase import duty gradually up to 35 percent for next three years on investors who invest in cars and LCVs for two years.
The FBR has refused to facilitate the current industries further and also opposed single digit duty for local and non-local spare parts.
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