The government has increased the tax rate for all vehicles in the Finance Bill 2023. According to the amended Finance Bill 2023, the tax would be Rs. 10,000 for up to 850cc vehicles.
Similarly, Rs. 20,000 tax would apply on 851cc to 1000cc vehicles, Rs. 25,000 on 1001cc to 1300cc vehicles, Rs. 50,000 on 1301cc to 1600cc vehicles, Rs. 150,000 on 1601cc to 1800cc vehicles, and Rs. 200,000 on 1801cc to 2000cc vehicles.
Furthermore, there will be a 6% tax on the value of vehicles from 2001cc to 2500cc, an 8% tax on the value of vehicles from 2501cc to 3000cc, and 10% on the value of vehicles with engines larger than 3000cc.
According to the amended Finance Bill 2023, Customs would assess the import value of cars with engine capacity above 2001cc and use that to levy Customs Duty, FED, and Sales tax.
Meanwhile, the invoice value inclusive of all duties and taxes would also be applicable on vehicles above 2001c for both Completely Built-up and locally assembled cars.
In cases where engine capacity is not applicable and the value of vehicles is over Rs. 5 million or more, the rate of tax collectible shall be 3% of the import value — including the revised Customs Duty, FED, and Sales tax in case of imported vehicles — or invoice value in case of locally assembled vehicles.
This is very much unjustified taxes on the cars local or imported of 600 cc to 1500 cc.Govt should reconsider on their decision. Tax on higher cc cars is justifiable because the owners can afford to pay.
Is this also applicable on car models more than 5 years old?
No on new registration
Will it be collected by customns or registeration excise office??
IMF slavery , imran niazi has pushed us to the real slavery till the loan is not re paid we are slaves .
Then you are real slave of #NS & #PDM mix plate
We are meant to be slaves of ourselves. First get freedom from it.
Rubbish
Present Government is Totally Failed , as No one including IMF Trust them . Their Policies against Local Industries which are closing down rapidly is lethal.
Government of Dugs proving that they should never give up till their mutual deaths.
It’s really hard to purchase the vehicle in comming years new generation will not able to purchase or buy the car due to fluctuate or increase of taxs’ of vehicle.
Where these taxes goes? For people no roads no water no gas no medical.
Loan payments
Don’t worry relax and enjoy
R these taxes on annually or on purchase time only?
What is custom taxe on bmw series 7 phev and Audi A8 l phev