The Federal Board of Income imposed a 25 p.c gross sales tax on regionally manufactured luxurious automobiles.
FBR has issued the SRO of Gross sales Tax on Luxurious Automobiles based on which the tax has been levied on regionally manufactured automobiles of 1400 cc and above.
In keeping with the SRO, this tax can even be imposed on automobiles value Rs 40 lakh or extra, regionally manufactured and double cabin automobiles can even be taxed at 25%.
In keeping with FBR sources, this tax is already imposed on regionally manufactured SUVs and CUVs, whereas this tax is already imposed on imported automobiles.
