FBR reacts to ‘amnesty scheme’ for smuggled vehicles

ISLAMABAD: The Federal Board of Revenue (FBR) reacted to the news circulating about the amnesty scheme for smuggled vehicles, ARY News reported.

In a statement issued here, the FBR spokesperson, “It has come to the notice of the Federal Board of Revenue (FBR) that certain rumors are circulating on social media regarding a purported upcoming amnesty scheme for regularising smuggled vehicles.”

The FBR categorically denied the rumors and made it clear that no such scheme is under consideration by the federal government at this time.

The FBR also urged the general public not to believe any such misinformation circulating in social media or any other unverified sources.

Earlier the new tax rate introduced in the budget 2024-25 on locally manufactured vehicles among many others came into effect from July 1.

This change marks a shift from a fixed tax rate to a value-based tax system, as outlined in the Finance Bill 2024-25.

Under the new tax regime introduced in budget 2024-25, the tax on vehicles is no longer a fixed amount but varies according to the vehicle’s value.