Finance Priest Muhammad Aurangzeb introduced the financial plan proposition for 2024-25, reporting significant amendments to vehicle tax assessment. A key change includes moving the premise of the portion charge (WHT) on vehicles. Not set in stone by motor limit, it will presently be determined by the ex-production line cost. 3.5
This update influences vehicle costs across different motor limits, going from 660cc to 2,000cc. How about we plunge into what the new spending plan means for various vehicle models in Pakistan.
Vehicle Costs After Financial plan 2024 (660-850cc)
For reduced vehicles like the Suzuki Alto and Bolan, the new portion charge is set at 0.50% of the ex-manufacturing plant cost. This outcomes in a humble expansion in the duty sum for most models. For example, the Suzuki Alto VX, evaluated at PKR 2,331,000, will currently have a duty of PKR 11,655, up from the past level pace of PKR 10,000. The most elevated expansion in this class is found in the Suzuki Alto VXL AGS, with another assessment of PKR 15,225, an increment of PKR 5,225.
Vehicle Costs After Financial plan 2024 (851-1000cc)
Climbing to the 851-1000cc classification, vehicles like the Suzuki WagonR and Kia Picanto presently have a 1.00% WHT. For instance, the Suzuki Cart R VXR, esteemed at PKR 3,214,000, will see another duty of PKR 32,140, a critical ascent from the past PKR 20,000. Essentially, the Changan Karvaan In addition to will presently have a duty of PKR 29,990 contrasted with the prior PKR 20,000, mirroring a striking increment.
Vehicle Costs After Financial plan 2024 (1001-1300cc)
For moderate sized vehicles between 1001-1300cc, for example, the Suzuki Quick and Honda City, the WHT is set at 1.50% of the ex-industrial facility cost. The Suzuki Quick GL Manual, with an ex-industrial facility cost of PKR 4,336,000, will presently cause a duty of PKR 65,040, up from the past PKR 25,000. The Honda City 1.2L CVT’s new duty is PKR 70,335, showing a significant increment from the past level rate.
Commercial
Vehicle Costs After Financial plan 2024 (1301-1600cc)
Vehicles in the 1301-1600cc territory, including models like the Toyota Yaris and Honda BRV, will confront a 2.00% WHT. The Toyota Yaris GLI MT 1.3, evaluated at PKR 4,479,000, will presently have an expense of PKR 89,580, contrasted with the past PKR 50,000. The Honda HR-V VTi, another famous model, will see its expense ascend to PKR 152,980 from PKR 50,000, mirroring the expanded weight on mid-range vehicles.
Vehicle Costs After Financial plan 2024 (1601-1800cc)
For vehicles between 1601-1800cc, similar to the Toyota Corolla Altis and Hyundai Elantra, the WHT leaps to 3%. For instance, the Toyota Corolla Altis Grande X CVT-I 1.8, evaluated at PKR 7,509,000, will see its expense ascend to PKR 225,270 from the past PKR 150,000. The Hyundai Elantra GL will currently cause a duty of PKR 191,970, denoting a remarkable increment from the prior level rate.
Vehicle Costs After Financial plan 2024 (1801-2000cc)
For top-level models in the 1801-2000cc territory like the MG HS and Hyundai Tucson, the Saved portion Duty (WHT) will be set at 5%. This implies the MG HS 2.0T AWD, initially valued at PKR 9,299,000 ex-plant, will currently cause a duty of PKR 464,950, a prominent increment from the past PKR 200,000. Essentially, the Kia Sportage AWD will see its expense ascend to PKR 423,500 from the previous fixed rate, showing a significant increment for bigger vehicles.
This financial plan proposition changes the elements for vehicle buyers in Pakistan essentially. Moving to compute keeping charge (WHT) in light of the ex-plant cost will bring about expanded charges across all vehicle sections, especially influencing mid to high-run vehicles. Customers should consider these extra expenses while arranging their vehicle acquisitions. These changes are planned to support income and possibly boost an inclination for more modest, more affordable vehicles. 3.5