Tax rate for token payment, registration of cars not changed in budget: FBR

ISLAMABAD: Federal Board of Revenue (FBR) Tuesday strongly rebutted the perception that rate of tax had been changed in the Financial Budget-2019 for the token payment and registration of cars.

After verification it was noticed that this misperception was due to a typographical mistake which was rectified in the Finance Act-2019, a press release by FBR said.

It added the rate of tax for the token payment and registration of cars was the same that was charged in the previous year and there was no enhancement or reduction in the tax rate.

FBR further added that no tax had been levied on private cars on the basis of seating capacity.

However, the people who have not filed tax returns will have to pay double tax than the people who are on the Active Taxpayer List (ATL).

Any person who thinks he is not eligible to pay tax can inform the FBR beforehand who can be considered for exemption from the payment of this double tax.