Auto Sector to endure losses of Rs50 billion given current ban on non-filers
MG News | October 03, 2018 at 11:03 AM GMT+05:00
October 02, 2018 (MLN): The Pakistan Automotive Manufacturers Association (PAMA) has claimed that the government is bound to suffer revenue losses amounting to Rs. 50 billion lest sales drop, owing to a ban on non-filers of tax returns from purchasing new vehicles.
PAMA urged the government to lift the restrictions on non-filers for purchase of cars, and offered its cooperation for documentation purposes by sharing the data on non-filers with the Federal Board of Revenue (FBR) on a regular basis.
The former PML-N government had previously enforced a limitation on non-filers of tax returns in the Finance Act 2018-19, which prevented them from purchasing new cars.
However, the ban can be lifted if the changes in the Finance Act introduced by the Finance Minister Asad Umar are passed.
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