ISLAMABAD, Nov 8: The Central Board of Revenue (CBR) on Wednesday exempted CNG buses and agricultural tractors from six per cent withholding tax on import. The decision was announced through an income tax notification SRO 1118 of 2006 issued here by amending the second schedule of the Income Tax Ordinance 2001.

According to the notification, the exemption of withholding tax will apply to the import of fully dedicated CNG buses (CBU) classified under PCT heading 8702.1090 and 8702.9090 and agricultural tractors classified under PCT heading 8701.9020.