Islamabad has elevated token tax charges on autos after approval from the Nationwide Meeting Standing Committee on Finance.
The brand new charges primarily have an effect on automobiles primarily based on engine dimension and manufacturing yr. In line with the up to date construction, the token tax for autos as much as 1000 CC has been raised to Rs 20,000.
Officers stated the choice was taken as a result of token tax charges in Islamabad had not been revised since 2019, whereas different provinces had already elevated their costs. Underneath the brand new guidelines, autos as much as 1000 cc made earlier than 2010 will now pay a hard and fast tax of Rs 20,000.
The tax system for autos between 1000 CC and 1300 CC has additionally been modified. Earlier, it was calculated at 0.3% of the automobile’s bill worth, however now it has been diminished barely to 0.25%.
For these autos, the tax can be Rs 2,500 for fashions made earlier than 2010 and Rs 6,200 for fashions made after 2010.
Officers knowledgeable the committee that Islamabad collected round Rs 3.9 billion from automobile taxes this yr. About 19% of this quantity was collected by digital programs.
After the brand new tax improve, income is anticipated to rise to Rs 5.2 billion within the subsequent fiscal yr of 2027.
Authorities stated the up to date tax plan is designed to enhance income assortment and convey Islamabad system consistent with different provinces.
