Islamabad: The Federal Board of Revenue (FBR) has announced a significant increase in sales tax for locally assembled vehicles priced over PKR 4 million, according to a news source on March 8.
As per the details, this change, outlined in a recent notification, imposes a 25% sales tax on such vehicles, including those with engine capacities of 1400cc and above. The decision aims to boost tax revenue and was approved by the Economic Coordination Committee (ECC) of the federal cabinet in February.
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