Islamabad: The central government has reduced the registration tax for commercial vehicles in the excise and tax department. Islamabad Capital Territory (ICT), ARY News reported on Monday.
according to the details The federal government lowered the registration tax on commercial vehicles to 1 percent, previously reaching 4 percent.
This decision was made to provide maximum and concrete relief to the people. Identify press releases issued by the Excise Department and Tax ICT.
It is pertinent to mention here that the ruling coalition has added advance car tax with an engine capacity of 1600CC or more in the 2022-23 budget
under budget The government has doubled the tax for cars with an engine capacity of 1,600 cc or more.
The finance minister at that time spoke at parliament. Miftah Ismail Said: “In continuation of our policy to shift the tax burden on the rich class. The advance tax on motor vehicles over 1,600 cc has been proposed to be increased.”
“In addition, pre-tax will be levied at 2 percent of the value in the case of high-value hybrid and electric vehicles,” he added.
The finance minister added that “in addition, the tax rate for non-filers will increase to 200 per cent from the current 100 per cent” under the new budget. Drivers of cars under 850 cc will be charged a registration tax of Rs 10,000.
