ECC: 10% tax reduction on imported cars, auto-parts after 2 years
ECC also approved a five-year auto policy promoting local auto industry.
ISLAMABAD (Dunya News) – Federal Finance Minister Ishaq Dar held a meeting with Economic Coordination Committee (ECC) on Friday and announced that a 10% tax reduction will be observed on imported cars and auto-parts after a period of 2 years, reported Dunya News.
In the meeting held under the supervision of the Finance Minister, ECC also approved a five-year new auto policy. Business tax amnesty scheme was also approved till 31 March. Rs 5 billion has also been approved for PIA on government assurance.
The ECC further announced that the Automobile manufacturing industry will also be given relaxation regarding tax while local auto industry will be promoted as well.
