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KARACHI, April 23: The Federal Board of Revenue has further extended the date for application of 2.5 per cent withholding tax on sale of locally-assembled cars from April 20 to June 30.
Earlier it had been deferred from February 21 to April 20.
Shah M Saad Husain, Director Corporate Planning and Customer Relations, Indus Motor Company (IMC), said on Wednesday that the extension would further boost demand for cars.
He, however, urged the government to consider total removal of withholding tax in the next budget.
