The Federal Board of Revenue (FBR) is facing a shortfall of tax and capital value tax on account of drop in the registration of vehicles, reported 24NewsHD TV channel on Tuesday.
Sources told 24News that the Excise and Taxation had been able to register 40, 000 less cars in recent years.
Besides that, they disclosed, compared with the last year, the department was facing the shortfall of Rs90 million.
Sources explained that the reason for the shortfall was the country’s poor financial condition.
Therefore, they added, on the instructions of Chief Commissioner Nasir Iqbal, it had been decided to conduct a detailed audit of the Excise and Taxation.