Type to search

Business News Pakistan

Fresh tax amnesty scheme for non-duty-paid vehicles proposed

Duty on Cars

The government is considering a proposal to unveil a fresh Tax Amnesty Scheme for the regularisation of non-duty-paid vehicles belonging to formerly merged districts known as the Federally Administered Tribal Areas (FATA)/Provincially Administered Tribal Areas (PATA) into the Khyber Pakhtunkhwa.

Another proposal is under consideration to slap Additional Customs Duty (ACD) up to 3 percent on imports, especially on non-essential and luxury items in a bid to fetch Rs50 to Rs70 billion into the national kitty.

Earlier, the proposal prepared by the FBR included the imposition of a Flood Levy in the range of up to 2 percent on imports but now it seems that it has been dropped and ACD up to 3 percent was actively under consideration. Both proposals are still on the table and it is to be seen which one is getting assent of Prime Minister Shehbaz Sharif.

“The proposal for regularisation of non-duty paid vehicles belonging to formerly known FATA and PATA are under consideration with estimates that the FBR can fetch up to Rs30 billion into the national kitty,” top official sources confirmed while talking to The News here on Wednesday.