KARACHI
\nMembers of a delegation from Automotive Traders & Importers Association (ATIA) led by President ATIA Ch. Amir Ali Khan expressed deep concerns over Excise & Taxation (E&T) Department\u2019s unjust demand for Capital Value Tax (CVT) imposed on transfer of vehicles which, although became effective from July 1, 2022 but was not applied immediately by the E&T Department and now, after a lapse of 10 months, the department was demanding CVT retrospectively which was technically not possible.
\nExchanging views at a meeting during their visit to Karachi Chamber of Commerce & Industry (KCCI), ATIA delegation sought KCCI\u2019s assistance in dealing with this pressing issue as 1 percent CVT imposed on transfer of vehicle cannot be demanded from July 1, 2022 because during these 10 months, many vehicles have been sold and transferred at least three to four times so how a showroom owner would be able arrange 1 percent CVT on each transfer for vehicles which have been sold and transferred so many times, they said, adding that 1 percent CVT from current sale and transfer can be submitted to E&T department but it will not be possible to submit CVT for all the transfer of vehicles which took place during the last 10 months.
\nPresident KCCI Mohammed Tariq Yousuf, Senior Vice President Touseef Ahmed, Vice President Muhammad Haris Agar, Chairman Special Committee for Small Traders Majeed Memon, KCCI Managing Committee Members and others were also present on the occasion.
\nPresident ATIA Ch. Amir Ali Khan said that it was purely E&T department\u2019s fault that they delayed the imposition of CVT for 10 months and failed to understand FBR\u2019s instructions. \u201cIt is highly unfair that we are being penalized for the department\u2019s mistake, hence, relief must be provided to perturbed showroom owners by applying CVT on all future transfers instead of demanding CVT for transfers done during the last 10 month\u201d, said President ATIA Ch. Amir Ali Khan.
\nATIA delegation members also expressed deep concerns over rising street crimes at new M.A. Jinnah Road, University Road and Khalid Bin Waleed Road where most of the car showrooms were situated and the customers were fearlessly being looted even during broad daylight. The street crimes in these areas have risen sharply as the relevant police stations were hardly carrying out patrolling in these areas which provides a perfect opportunity to criminals to loot the masses, they added and requested KCCI to take up this matter with the high-ups in police department.
\nReferring to ongoing development work at New M.A. Jinnah Road for Red line bus route, ATIA delegation said that this project would reduce the size of existing road from Central Jail to Peoples Roundabout and create severe traffic congestion, besides affecting all the local businesses in this area. Instead of reducing the size of existing road, an elevated pathway should be constructed which would help in dealing with traffic congestion issue and also save local businesses from losses.
\nPresident KCCI Mohammed Tariq Yousuf, after listening to hardships being faced by showroom owners, assured to take up the CVT issue with E&T department so that relief could be provided to perturbed showroom owner. \u201cWe will also discuss the issue pertaining to construction red line bus route with relevant authorities so that it could be amicably resolved and the showroom owners and shopkeepers could carry on their business activities as usual\u201d, he added.
\nWhile referring to concerns expressed over rising street crimes, Tariq Yousuf advised ATIA delegation to arrange at least two Suzuki Vans themselves along with drivers which can be provided to local police stations for carrying out patrolling in this area.
\n\u201cWe will certainly convince the high ups in police department to provide police force and wireless equipment for these Vans but these must be arranged and maintained by your association along with drivers\u201d, he added while citing a similar service successfully being provided by Karachi Chamber in various commercial markets in District South under KCCI\u2019s Police Chamber Liaison Committee.<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI Members of a delegation from Automotive Traders & Importers Association (ATIA) led by President ATIA Ch. Amir Ali Khan expressed deep concerns over Excise & Taxation (E&T) Department\u2019s unjust demand for Capital Value Tax (CVT) imposed on transfer of vehicles which, although became effective from July 1, 2022 but was not applied immediately by […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-333658","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n