The Federal Board of Revenue withdraw its summary for relief in sales tax for Japanese automakers and send it to the Federal Cabinet for approval.
According to the details FBR presenting a summary to the Federal Cabinet to reduce the sales tax for the Japanese automakers to give them a chance to enhance the productivity level in the country. But recently in the meeting, FBR has withdrawn its summary and sent it to the federal cabinet for approval.
FBR has decided to focus on the monitoring of sales tax collection because it is a strong way to enhance the tax collection of the current fiscal year.
The chairman of FBR Shabbar Zaidi has passed the orders to the sales tax collection department to take action against the non-filer for July and August.
Furthermore, he said that the FBR had to try to abolish the 3% value-added tax (VAT) on the import of 32 auto products and impose the low tax on the auto parts. Chairman told the media that the three products use by the automakers will pay the tax at the full retail price, but FBR still trying to abolish the value-added tax on automakers.
Moreover, recently FBR sent the summary to the federal cabinet for approval, to reduce the sales tax on the 32 imported products including auto parts, tires, tubes, and batteries used by the automakers. But the summary has been withdrawn in the meeting.
The FBR has empowered to impose the Third Schedule sales Act 1990 on the automakers and collect 17% standard sales tax on these products.
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