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Court to URA: Car Taxes Must be Based on Transaction Value not Uniform Estimates

Court to URA: Car Taxes Must be Based on Transaction Value not Uniform Estimates
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FBR Raises Customs of MG Vehicles by 14.5 Percent

FBR Raises Customs of MG Vehicles by 14.5 Percent
In a significant development, the Federal Board of Revenue (FBR) has reportedly bumped up the assessable customs value of the MG SUVs by 14.5 percent over the weekend by means of a ‘Fall Back Method’ as provided under Section 25(9) of the Customs Act, 1969. After the hike, the customs value of the vehicles has gone from $11,632 per unit to $13,314 per unit.
Pakistan’s JW SEZ (Pvt.) Ltd. has reportedly become the subject of an audit once again because of the alleged under-invoicing of the imported units of the MG HS that were supplied to the Pakistan auto-company by SAIC Motor of China. As per the findings of the initial audit process, the maximum unit prices of the MG CBU vehicles were reportedly around $22,000. ....

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