In Islamabad, new taxes implemented for the fiscal year have raised vehicle tax rates, making it more difficult for consumers to buy vehicles in Pakistan. The new regulations include a regulatory duty on imported vehicles and spare parts. Tax rates on locally manufactured vehicles have also been increased.
Under the updated tax system:
– Vehicles up to 850 cc now face a 5% tax, replacing the previous fixed amount of 10,000 PKR.
– For vehicles between 851 and 1,000 cc, the tax is 1% instead of the earlier fixed 20,000 PKR.
– Vehicles from 1,001 to 1,300 cc now incur a 1.5% tax, up from the previous 25,000 PKR.
– Vehicles ranging from 1,301 to 1,600 cc face a 2% tax, replacing the former fixed amount of 50,000 PKR.
– The tax on vehicles from 1,601 to 1,800 cc has risen to 3%, up from 150,000 PKR.
– For vehicles between 1,801 and 2,000 cc, the tax rate is now 5%, previously 200,000 PKR.
– Vehicles from 2,001 to 2,500 cc will see a tax rate of 7%, increased from 1%.
– Vehicles between 2,501 and 3,000 cc will incur a tax rate of 9%, up from the former 1%.
– Vehicles above 3,000 cc will face a 12% tax rate, previously 2%.
These changes aim to adjust tax rates across different vehicle categories, affecting both imported and locally manufactured vehicles.
