KARACHI: Federal Board of Revenue (FBR) has decided to obtain the data of new owners of vehicles. For this purpose FBR already writes a letter to Motor Vehicles Registration Authorities and Excise and Taxation Departments of all the four provinces.
Sources told Customs Today, that FBR is trying to bring a state-of-the art system which will join motor vehicles authorities and excise data to FBR. This measure will enable FBR to access the individual for deduction of withholding tax. This will also broadened the tax net of the country.
Sources further revealed, that this system will be quite simplified, while on the other hand FBR also informed to all Excise and Taxations departments about levy of withholding tax on locally manufactured vehicles.
