ISLAMABAD: The FBR has brought changes in taxation for vehicles and slapped taxes on the basis of the value of vehicles instead of engine capacity.
According to the Finance Bill 2024-25, up to 800cc, there will be tax of 0.5 per cent of the total value of the vehicle. From 851cc to 1000cc, tax will be 1% of the value of the vehicle. For 1001cc to 1300cc, there will be tax rate of 1.5% of the value of the vehicle. For 1301cc to 1600cc, the tax rate of 2% of the value has been imposed.
For 1601cc to 1800cc, the tax rate of 3% of the value of the vehicle has been imposed. For 1801cc to 2000cc, the tax rate of 5% of the value of the vehicle has been slapped. For 2001cc to 2500cc, the tax rate will be 7% of the value of the vehicle. For 2501cc to 3000cc, the tax rate of 9% of the value has been imposed. For above 3000cc, there will be tax rate of 12% of the value.
Justice Mian Gul Hassan Aurangzeb heard the case
Naveed Meher is accused of firing shots at PTI's long march passing through Wazirabad
Ministry of Defence representative informed court that Panjotha was not in custody of intelligence agencies
He added that monthly follow-up should be made to ensure speedy progress on the issue
I regretfully find myself unable to endorse the reasoning,” Justice Rizvi noted
Government also ruled out the possibility of tax exemption to banks on advance to-deposit ratio