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Luxury Tax imposed on Bigger Engine Cars

Momina  09 Jun 2022   606
Luxury Tax imposed on Bigger Engine Cars

Luxury Tax imposed on Bigger Engine Cars

The Federal government has decided to impose the luxury tax in the Finance Bill 2022 on the high end vehicles in Pakistan which are powered by a heavy engine. The government will impose the luxury tax on these vehicles in the new fiscal budget 2022-23. According to concerned officials, the fixed amount of luxury tax will be imposed on annual basis on the luxury vehicles. 

Moreover, the government will impose the luxury tax on high engine cars whether they are locally manufactured or imported from other countries. 
The government aims to collect more tax amount from the people belonging to leading class have high earnings by imposing luxury tax. Currently, the budget makers are discussing the proposal and according to officials, the final decision is yet to be made.
If government successfully imposes the luxury tax on premium vehicles, then the more revenue will be collected which will help in boosting the overall economy of the country. 
What are your thoughts? Is government is taking right step? Will this help in improving the economical condition?

Stay tuned with Gari.PK for more updates, news and articles from local and international auto sector. You can also check the motorbike prices in Pakistan and Car Prices Pakistan for all used cars and new cars in the market

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Luxury Tax imposed on Bigger Engine Cars

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