The Federal Board of Revenue (FBR) has frozen the bank accounts of Al-Haj FAW Motors after the company defaulted on its sales tax payment.
FBR’s Large Taxpayers Unit (LTU) in Karachi, on Friday, froze the bank accounts of the company stating that they have not received the sales tax for the last two months.
As per sales tax laws, every registered entity is required to make sales tax payment and file returns on a monthly basis.
Sources privy to the matter suggest that the automaker has neither paid sales tax amounting Rs. 239 million nor has the company submitted its returns for the last two months.
The non-payment for Al-Haj Faw Motors deems strange because the company rose prices of the vehicles just last month.
Here is the list of products from Al-Haj FAW which have been subjected to the price hike:
|Vehicle||Old Prices||New Prices||Difference|
|FAW Carrier Deck-less||PKR 849,000||PKR 919,000||PKR 70,000|
|FAW Carrier Flatbed||PKR 859,000||PKR 929,000||PKR 70,000|
|FAW Carrier Standard||PKR 869,000||PKR 939,000||PKR 70,000|
|FAW X-PV Standard||PKR 974,000||PKR 1,034,000||PKR 60,000|
|FAW X-PV Dual A/C||PKR 1,024,000||PKR 1,094,000||PKR 70,000|
|FAW X-PV PE (Power Edition)||N/A||PKR 1,119,000||N/A|
|FAW V2||PKR 1,204,000||PKR 1,289,000||PKR 85,000|
The company says that the revised prices were effective from 1st November 2018.