Finance Minister Muhammad Aurangzeb presented the budget proposal for 2024-25, announcing major revisions to vehicle taxation. A key adjustment involves shifting the basis of the withholding tax (WHT) on cars. Previously determined by engine capacity, it will now be calculated according to the ex-factory price. 3.5 This update affects car prices across various engine capacities, … Read more
The government considers raising the withholding tax on new car purchases. A proposed tax hike could significantly increase prices, impacting even budget-friendly models. The auto industry is already struggling with slow sales due to inflation. The government is contemplating a substantial rise in withholding tax on new car purchases, with proposed changes not limited to … Read more
The ECC approved a proposal to raise the sales tax on locally made vehicles. The decision was made during a meeting led by Federal Minister for Finance,. The ECC standardized the criteria for implementing a higher 25% sales tax rate. The Economic Coordination Committee (ECC) of the Cabinet has approved a proposal from the Federal … Read more
