Non-filers to pay 3pc tax on leased vehicles

ISLAMABAD: Non-filers of tax will receive another jolt from July 1, 2016 as they will have to pay 3 percent withholding tax on getting any vehicle from leasing companies or banks on lease. 

The non-filers who get precious vehicles from leasing companies or banks on lease will have to pay 3 percent withholding tax under Finance Act 2016 which will be imposed by keeping in view total price of vehicles written in leasing documents. This tax will be collected on vehicles which issued on lease after July 2016.