A major auction of seized vehicles is being held at Custom House Peshawar today, organized by the Federal Board of Revenue (FBR).
Dozens of small and large vehicles, SUVs and commercial vehicles seized as a result of smuggling and other illegal activities are being offered for sale in this auction.
The auction list includes Toyota Land Cruiser, Honda Vezel, and modern cars of various models which are being auctioned. According to customs officials, the aim of this auction is to increase government revenue and dispose of the stock of vehicles in customs warehouses.
Prospective buyers are advised to inspect the vehicles before bidding as some units may be affected by accidents or may have some legal complications. As per the auction terms, successful bidders will have to deposit 25% of the amount on the spot, while the possession of the vehicle will be given only after depositing the remaining amount within the stipulated time.
Furthermore, the withholding tax rate for filers has been fixed at 10% while for non-filers it is fixed at 20%. The Customs Department has clarified that like any illegal encroachment on government land or public footpaths, a zero tolerance policy will continue against smuggled vehicles and all such vehicles will be auctioned as per the law.
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