May 30

The tax collection of new car registrations is reduced by 10.2%

The tax collection of new car registrations is reduced by 10.2%The tax collection of new car registrations is reduced by 10.2%

The Federal Revenue Board (FBR) has collected withholding taxes in the amount of Rs. 8.28 billion new car registrations in the first ten months of the current fiscal year. The collection of taxes has been reduced by 10.2 percent of the amount collected in the same period last year.

The reason behind this decrease is a reduction in car sales due to the economic slowdown. The amount collected under tax withholding in the new car registry has plummeted from Continue reading