FBR responds to the ‘amnesty scheme’ for vehicles that have been smuggled

A spokesperson for the Federal Board of Revenue sent out the following statement: “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 regularizing smuggled vehicles.”

The Federal Bureau of Revenue (FBR) has provided a resounding denial of the rumors and made it very clear that the federal government is not now contemplating any such scheme.

It was also cautioned by the FBR that the general people should not believe any of the disinformation that is being spread through social media or any other sources that are not verified.

Beginning on July 1, the new tax rate that was established in the budget for the fiscal year 2024-25 for automobiles that were built domestically, among many others, went into effect.

According to the Finance Bill 2024-25, this modification signifies a transition away from a constant tax rate and toward a tax system that is based on value.

Due to the new tax system that was implemented in the budget for the fiscal year 2024-25, the tax that is levied on automobiles is no longer a constant amount but rather varies according to the value of the vehicle.