• About
  • Advertise
  • Contact
Tuesday, May 24, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk

Government considering on cutting down taxes on vehicles

bySidra Butt
June 8, 2021
in Main, New, Technology
Reading Time: 1 min read
0
Vehicle taxes
370
SHARES
882
VIEWS
Share on FacebookShare on Twitter

The government of Pakistan is considering on reducing taxes on new imported and locally assembled cars of up to 800cc engine capacity in the next budget aimed at bringing these within the purchasing power of the middle class.

The proposal, seeks to cut import duties and taxes on new imported cars by up to 63% and reduce them by nearly 7% for locally made cars.

RelatedPosts

CJP Umar Ata Bandial named among Time’s 100 most influential people of 2022

IT exports to touch $5bn mark in next fiscal year, says Aminul Haq

Pakistan proposes including Turkey in multibillion dollar CPEC project

The proposal includes abolishing 50% regulatory duty, either eliminating 7% additional customs duty or reducing the customs duty by the same percentage and abolishing 2.5% federal excise duty on new imported cars, the sources said.

In addition to that, there is also a proposal to abolish 5% withholding tax and reduce the standard general sales tax (GST) rate of 17% to 12% on the import of new cars of up to 800cc, they added.

The existing combined taxes and duties on new imported cars of up to 800cc are about 132% of the price which, if this proposal is implemented, will come down by 63% of the value of imported cars, said the sources.

Tags: Government of PakistanTaxesVehicles
Sidra Butt

Sidra Butt

Related Posts

Umar ata bandial

CJP Umar Ata Bandial named among Time’s 100 most influential people of 2022

Chief Justice of Pakistan Umar Ata Bandial was on Monday named among the 100 Most Influential People of 2022 by Time magazine. CJP Bandial's...

IT exports to touch $5bn mark in next fiscal year, says Aminul Haq

IT exports to touch $5bn mark in next fiscal year, says Aminul Haq

Federal Minister for Information Technology and Telecom­muni­cation Aminul Haq has said that Pakistan’s IT exports would touch $3 billion mark...

Next Post
Automatic weather station

Automatic Weather Stations installed to monitor rainfall

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

PIA To Operate Hajj Flights From Eight Cities From May 31

PIA To Operate Hajj Flights From Eight Cities From May 31

Umar ata bandial

CJP Umar Ata Bandial named among Time’s 100 most influential people of 2022

Sarah Saeed promoted to BPS-22

Sarah Saeed promoted to BPS-22

PM restores Pakistan Kidney and Liver Institute Board

PM restores Pakistan Kidney and Liver Institute Board

Pakistan to lock horns with India on the first day of Hockey Asia Cup 2022

Pakistan to lock horns with India on the first day of Hockey Asia Cup 2022

Sculpture show to feature works of 30 acclaimed artists from 28th May

Sculpture show to feature works of 30 acclaimed artists from 28th May

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2020 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2020 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?