Abolished withholding tax on old vehicles

By Web Desk 

ISLAMABAD : Withholding tax on old vehicles was abolished.

According to FBR sources, the turnover tax on old vehicles has been reduced from 1.5 per cent to 0.25 per cent. Tax cuts have been made to increase vehicle documentation.

According to sources, relevant provisions of income tax laws have been amended. The tax reduction will apply to the sale and purchase of privately owned vehicles