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FBR collects Rs9,925m tax from three auto companies during two years

FBR collects Rs9,925m tax from three auto companies during two years

ISLAMABAD: Federal Board of Revenue collected Rs9,925 million taxes from three Pakistani auto companies, including Honda Atlas Limited, Pak Suzuki Company Ltd and Indus Motor Company (Toyota).

The FBR figures show the demand of different types of cars and motorcycles in the country has increased in 2018 as compared to year 2017. Honda Atlas sold 39,163 cars and 9,60,105 motorcycles and paid Rs1340 million tax in 2017 while during 2018 company sold 51,494 cars, and 11,50,346 motorcycles  and paid Rs1,601 million tax.

Likewise, Pak Suzuki Company Ltd sold 97,374 cars and 18,478 motorcycles in 2017 and paid Rs1793 million tax while during 2018 Pak Suzuki sold 1,15,906 cars,  and 21,724 motorcycles and paid Rs1097 million tax.

Indus Motor Company (Toyota) sold 59,911 cars in year 2017 and paid Rs6140 million tax while during current year 62,874 cars have been sold and Rs7227 million tax was paid .

According to these figures, Pak Suzuki sold 2,13,280 cars and 40,202 motorcycles, while Honda Atlas sold 90,657 cars and 21,10, 451 motorcycles during two years. Likewise, Toyota sold 1,22,785 cars in two years.

Among three auto companies, Toyota Company has paid total amount Rs13,367 million tax while Pak Suzuki Company sold double numbers of cars and paid Rs2890 million as tax. Likewise Honda Atlas sold more than 90,000 units of cars and 2.1 million motorcycles and paid only Rs1941 million tax.

According to Sources, this huge difference between the companies’ paid tax amount is question mark and on the basis of sold unit numbers, FBR can seek explanation from the companies.