Capital Value Tax Chapter- 01
(For CA MOD F students)
Sr. Section Particulars- (1) Levy of tax on capital value of certain assets
- (2) Assets on which CVT is applicable
- (3) Value of The Assets
- (4) Manner of collection and payment of CVT
- (5) Deposit of CVT in the federal consolidated Fund
- (6) Implication for late or non payment of CVT
- (7) Passing of an order by relevant Taxation Officer
- (8) Revision of order by CIR
- (9) Application of ITO 2001,for collection and recovery of CVT
10. (10) Right of Appeal to the aggrieved person- (11) Power of FBR to prescribed manner and procedure for collection and
recovery - (12) Power of FG to exempt any asset from CVT
- (13) Definitions
- First Schedule
- PRACTICAL EXAMPLE
1 6. ICMAP PAST PAPERS THEORECTICAL QUESTIONS- Levy of tax on capital value of certain assets. –
A tax shall be levied, charged, collected and paid on the value of assets at the rates specified in the
First Schedule to this section for tax year 2022 and onwards:
Provided that the tax shall be charged from the 1st day of July, 2022 in case of motor vehicles held in
Pakistan.
1 CAPITAL VALUE TAX^
Chapter