The Federal Board of Revenue (FBR) has imposed a 25% sales tax on locally manufactured or assembled vehicles after the federal government revised the descriptions of locally manufactured or assembled automobile goods.
This decision was announced on Friday through the issuance of SRO 370(I)/ 2024, amending the earlier SRO 297(I)/ 2023.
The amendment specifies that the 25% sales tax applies to locally manufactured or assembled vehicles with an engine capacity of 1400cc or more and a price above Rs 4 million (excluding sales tax). This also includes double cabin (4×4) pick-up vehicles.
According to the recent updates, the PCT code 87.03, previously applicable to locally produced or assembled SUVs and CUVs, will now extend to vehicles manufactured or assembled locally with an engine capacity of 1400cc and above.
Additionally, this PCT code 87.03 will also encompass locally produced or assembled vehicles priced above Rs4 million, not including sales tax.
The PCT code 87.04, which pertains to locally produced or assembled double cabin (4×4) pick-up vehicles, remains unchanged.
The FBR said that this tax rate aligns with the charge on certain imported goods and their supply or retail price.
dont understand. kindly use easy english.
Inna Lillah e Wa Inna Ilaihi Rajioon Auto Industry of Pakistan.
پاکستانی آٹو انڈسٹری اور بلکہ پورا پاکستان ہی فوت ہونے کے قریب ہے۔ اللہ رحم کرے۔۔۔
That’s Sad. Despite of always presenting that financial and Tax collecting authorities are very capable and will definitely comes out of the challenges face to Pakistan and it’s citizens, they failed to come up the solutions.
Instead they should put a total banned on all type of imported vehicles and give full support to local car manufacturers and industry, and they are putting extra tax @25%. Who will going to pay? A common man? Just compare the prices with your neighbors and on this region, you will make suicide.
Slaves of IMF are imposed on public. Making those acts which are jeopardising the economy and growth of Pakistan.
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