WNAM REPORT: President of G-8 Markaz and the Islamabad Motor Cars Dealers Association, Ajab Khan, has called for a reduction in vehicle transfer fees and unnecessary taxes. He said that the repeated imposition of advance tax and Capital Value Tax (CVT) on the buying and selling of vehicles has created serious difficulties for stakeholders associated with the automobile trade.
He urged the government to maintain a balanced taxation system so that vehicle sales and purchases do not decline. He emphasized that a fair and balanced tax regime is essential for increasing business activity, encouraging investment, and ensuring sustainable growth in government revenues.
Ajab Khan further said that the federal and provincial governments should consult representatives of the automobile sector while formulating policies. Such policies, he added, should be business-friendly, reduce vehicle transfer fees and unnecessary taxes, and provide relief to the public.
He reaffirmed the commitment of the private sector to continue working alongside the government for the development of the automobile industry and the strengthening of Pakistan’s economy.
