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35% Increase in Tax for New Vehicle Registration

22 Feb 2019   387
35% Increase in Tax for New Vehicle Registration

35% Increase in Tax for New Vehicle Registration

There is increase of 35% in the tax collection because of the registration of the new vehicles during last seven months July to January of this financial year. Various analysts are surprised with it because the ban was put on the non filers to buy the new vehicles. The collection of the advance tax is also reached to 679 million rupees because of the production of the new vehicles, which was previously 503 million rupees.


 Some of the industrialists said the increase in the advance tax collection is based on various reasons, in which one is increase in the demand of use of the vehicles in ride hailing services. 35% Increase in Tax for New Vehicle Registration. The above mentioned large tax pair unit is received from the registered car makers in Karachi and there is expectations of authorities tax collection because the government has allowed the non filers to buy the car, which has engine capacity of 1300cc. 


35% Increase in Tax for New Vehicle Registration


The government has changed the settled policies of the previous government with the introduction of the finance supplementary second amendment bill 2019. Other departments of the country are also trying to increase their income with the receipt of the taxes through the registration of the new vehicles. Metropolitan Corporation Islamabad is an example of it. The authority has decided to restore the toll plazas on the entry and exit points of Islamabad to increase their revenue. The funds collected in this way, will be used to perform the city works in Islamabad. The federal government has also taken back the exemptions from the ministers and senators from the toll tax and now they will also pay the toll tax like public.
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