Tag: sales tax
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Toyota Yaris prices reduced by up to Rs133,000
Indus Motor Company, the manufacturer of Toyota vehicles in Pakistan, has announced a significant price adjustment for its Yaris sedan range.
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Car sales increase in Pakistan despite high prices, economic challenges
In a surprising turn of events, the soaring prices of cars in Pakistan have not deterred buyers, as car sales experienced a notable uptick in February 2024.
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FBR grants importers, wholesalers direct access to digital invoicing
The Federal Board of Revenue (FBR) has granted permission to importers, manufacturers, and wholesalers/dealers/distributors of fast-moving consumer goods to seamlessly integrate their electronic invoicing system with the FBR’s digital invoicing platform, eliminating the requirement for licenced integrators.
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Suzuki Cultus will now be sold for Rs4.36 million following latest price increase
On Wednesday, Pak Suzuki Motor Company (PSMC) made an announcement that has stirred up the automobile industry – a decision to increase the prices of their diverse range of car models by a substantial amount, up to Rs235,000. The automaker released a notification detailing the revised retail sales prices which will take effect from April…
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Another IMF condition met as Pakistan imposes 25% sales tax on luxury items
On Tuesday, the federal cabinet led by Prime Minister Shehbaz Sharif approved the imposition of a 25 per cent sales tax on luxury items, fulfilling a condition set by the International Monetary Fund (IMF) for the revival of the $7 billion Extended Fund Facility (EFF) that had been stalled for months. The cabinet approved the…
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IMF likely to announce staff level agreement with Pakistan by this week
According to Syed Naveed Qamar, the Federal Minister for Commerce, Pakistan has taken all necessary measures to unfreeze a $6.5 billion credit line and is expected to reach a staff level agreement (SLA) on Extended Fund Facility (EFF) with the International Monetary Fund (IMF) this week. Dr Aisha Ghaus Pasha, the Minister of State for…
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Honda Atlas passes on sales tax burden to customers with another massive price hike
Here are Honda cars latest prices
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From soap to air tickets: What’s getting costlier after mini-budget?
The Federal Board of Revenue (FBR) has issued an SRO to increase the standard 17 per cent general sales tax (GST) to 18 per cent, which will collect taxes worth Rs115 billion. The remaining Rs55 billion will be generated through other measures mentioned in the Finance (Supplementary) Bill 2023.
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Imported mobiles priced above $500 to become more expensive under proposed GST of 25%
The Federal Board of Revenue (FBR) has put forward a proposal to significantly augment the sales tax on imported mobile phones. This proposal is part of the Finance (Supplementary) Bill, 2023, which incorporates amendments to the Ninth Schedule of the Sales Tax Act 1990, specifically focusing on mobile phones. As per the proposed bill, a…
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FBR increases WHT rates for non-filers to raise additional revenue
In order to enhance the cost of non-filers and generate additional income in the second quarter (October-December) 2022–2023, the Federal Board of Revenue (FBR) has decided to carefully monitor budgetary measures established under the Finance Act 2022. The higher cost to non-filers was one of the budget’s driving concepts (for the years 2022-23), sources told…