KARACHI: The Federal Board of Revenue (FBR) on Thursday refuted speculation pertaining to levying a heavy withholding tax on motorcycles or rickshaws.
A day prior, rumours had surfaced that the FBR had implemented a withholding tax on the registration of motorcycles and rickshaws, hiking up bikes registration cost by Rs3,400 to Rs20,900.
However, in an explanatory statement, the FBR clarified that no withholding tax would be implemented on either motorcycles or rickshaws. Hamid Ateeq Sarwar, a member of the FBR’s IR (policy), said the application of any revision in motor vehicle taxes would not be for those in the lower-income stratum.
Sarwar further said the mention of withholding tax on motorcycles could have been a personal comment by an officer but stressed that it was not the FBR's policy.
The FBR member also noted that in efforts to increase tax collection, the body's priority would be to give leeway to the poor people.
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