Tax relief for small cars proposed

By: News Desk
Published: 12:37 PM, 11 Dec, 2021
Tax relief for small cars proposed
Caption: Representational image.
Stay tunned with 24 News HD Android App
Get it on Google Play

The Federal Ministry of Industry and Production has proposed tax relief for small cars under the new Auto Policy, reported 24NewsHD TV channel on Saturday, quoting sources.

The ministry recommended tax exemption for up to 800cc cars along with reducing sales tax on small cars to 12.5 percent.

The ministry also proposed abolishing additional customs duty, withholding tax and excise duty on locally manufactured small cars.

According to the sources, the tax relief will also apply to the small imported cars. It was also proposed to review tax relief for small cars after every year.

The Finance Ministry, however, directed the officials concerned to hold more consultations over the proposals for the tax relief.

Reporter Waqas Azeem