ISLAMABAD(Republic policy): The Federal Board of Revenue (FBR) has proposed to raise the federal excise duty (FED) on imported and locally-assembled motor vehicles through the promulgation of the Tax Laws Amendment Ordinance to generate additional revenue in ‘mini-budget’.
Sources told Business Recorder here on Friday that the revenue generation measure under consideration is to rationalise the rates of the FED on imported and locally-assembled motor vehicles.
In this connection, working is being done by the FBR to finalise the revenue impact of the raise in the FED on vehicles, depending on the engine capacity of imported and locally-manufactured vehicles. However, the proposal has yet to be approved by the government.