Islamabad June 12 2024: Pakistan to impose levy production tax on the registration of motor vehicles based on vehicle prices instead of engine capacity.
“Under the current law, motor vehicles are subject to production tax based on engine capacity up to 2000 cc for purchasing and registration. There has been significant increased in the price of vehicles. To take advantage of the potential benefit of this tax, it is proposed to change the tax basis for issuing licenses for motor vehicles from engine capacity to the price of the vehicle.” States Finance Minister.
