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Budget 2022-23: Tax figures of cars with engines ranging from 850cc to 3000cc

The government has released the fiscal budget for the fiscal year 2022-23, which includes numerous substantial adjustments.

by zerfeshan arshad
June 10, 2022
in business
Budget 2022-23: Details of tax on cars from 850cc to 3000cc

Budget 2022-23: Details of tax on cars from 850cc to 3000cc

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ISLAMABAD: The government has released the fiscal budget for the fiscal year 2022-23, which includes numerous substantial adjustments. The government has raised the levy on automobiles with more than 1,600cc of horsepower in the 2019 budget.

“Provided that in cases where engine capacity is not applicable and the vehicle’s value is Rs5 million or more, the rate of tax collectable shall be 3% of the import value, as increased by customs duty, sales tax, and federal excise duty in the case of imported vehicles, or invoice value in the case of locally manufactured or assembled vehicles,” the Finance Bill stated.

 list of taxes to be paid on Cars:

S.No

Engine Capacity

Tax

(1)

(2)

(3)

1.

Upto 850cc

Rs10,000

2.

851cc to 1000cc

Rs.20,000

3.

1001cc to 1300cc

Rs25,000

4.

1301cc to 1600cc

Rs50,000

5.

1601cc to 1800cc

Rs150,000

6.

1801cc to 2000cc

Rs200,000

7.

2001cc to 2500cc

Rs300,000

8.

2501cc to 3000cc

Rs400,000

9.

Above 3000cc

Rs500,000

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zerfeshan arshad

zerfeshan arshad

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