Federal govt withdraws decision of increasing taxes ratio for vehicle owners

ISLAMABAD (92 News) – The federal government has withdrawn its previous decision of increasing taxes ratio for vehicle occupiers. The government is also withdrawing earlier decision of imposing additional tax on number of seats in a vehicle. According to sources, the government will retain previous ratio of new registration, transfer, token tax and withholding tax on vehicle. The Federal Board of Revenue (FBR) has revived old rates of income tax and withholding tax, sources add.