Used cars de­pre­ci­a­tion cap raises by 10pc

The Financial Daily - - FRONT PAGE -

ISLAMABAD: Fed­eral Board of Rev­enue (FBR) has en­hanced the max­i­mum limit of the de­pre­ci­a­tion from the ex­ist­ing 50 per cent to 60 per cent on the im­port of old, used and sec­ond-hand cars, says a press re­lease is­sued Wed­nes­day.

The de­ci­sion has been taken in line with a sim­i­lar de­ci­sion taken by the Eco­nomic Co­or­di­na­tion Com­mit­tee (ECC) of the Cabi­net in its meet­ing held on 01.03.2011 when the apex body while con­sid­er­ing the sum­mary re­gard­ing "Ra­tio­nal­iz­ing the Prices of Lo­cally Man­u­fac­tured Cars"

See # 12 Page 11

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