Advance tax on Private Motor Vehicles Section 231B
Advance tax on private motor vehicles Section 231B: The Finance Bill in order to enhance the revenue has introduced new sub section under above referred section.
By virtue of said section, every motor vehicle registration authority of Excise and Taxation Department shall, at the time of registration, collect tax at the applicable rates, if the locally manufactured motor vehicle has been sold prior to registration by the person who originally purchased it from the local manufacturer.
Said rates are as follows;
|S. No. Engine capacity Tax|
|1.||Up to 1000cc||Rs. 50,000|
|2.||1001cc to 2000cc||Rs. 100,000|
|3.||2001cc and above||Rs. 200,000|
For more information on FBR’s new regulations / circulars/ SROs/ amendments in taxation laws in Pakistan please visit https://www.fbr.gov.pk/