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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