FBR Hikes Sales Tax For 25 Per Cent On Locally Manufactured Cars

The latest reports say that decision has been taken in a bid to achieve the targeted tax of the current financial year.

ISLAMABAD: (UrduPoint/UrduPoint / Pakistan Point News-March 8^th, 2024) The Federal board of Revenue (FBR) on Friday hiked the sales tax for 25 percent on the cars being manufactured in the local markets.

The top tax machinery also issued notification in this regard.

The cars’ sales tax previously was 18 per cent which was increased later to 25 per cent to achieve the targeted tax of the current financial year. The FBR also issued a notification regarding to increase sales tax from March 8.

The cars which were manufactured in Pakistan would be taken of sales tax to 25 percent on 1400CC cars whereas the extra sales tax would be imposed on those cars whose price is 40, 00000 or more than that.

It may be mentioned here that this decision has been taken amid to get more revenue for the betterment of the country.