Significant withholding tax imposed on motorcycles, rickshaws in Sindh
Last updated on: 25 July,2019 03:39 pm
Sources familiar with the matter stated that the decision has been taken following inflation.
KARACHI (Dunya News) – The federal government has decided to impose withholding tax on motorcycles and rickshaws. According to a letter sent by the Federal Bureau of Revenue (FBR) to the Sindh Excise and Taxation Department on July 22, the authorities have been strictly asked to collect the withholding tax.
According to details, the registration fee of motorcycles and rickshaws will be increased significantly as the withholding tax goes into effect.
The current registration fee of a motorcycle is Rs3,400, but it will be increased to Rs20,900, whereas for rickshaws, the current registration fee of Rs3,100 will be raised to Rs10,750 after the imposition of the tax.
Sources familiar with the matter told the media that the decision has been taken following inflation in the country.
However, this will create further financial issues for the poverty-stricken masses who rely on motorcycles and rickshaws as their primary means of transportation on the daily basis.