@all
The WithHolding Tax on cars have been increased by more than 100% in the budget. The notification however to the Post Offices were issued after July 15, 2008 and therefore for those who have got the registration renewed before July 15 paid less, however the difference will be recovered when you go for the reneweal next year.
I have paid for my Alto-348 Token Tax and 750 WHT
for my 96 XE- only 348 rs as WHT is not applicable on cars ten years old.
For 2005 EXI - Token Tax + 3000Rs WHT.
Read this:
Withholding tax rates, for renewal of registration of new cars, jeeps revised upward
ISLAMABAD,
Jul 21 (APP): The Federal Board of Revenue (FBR) has revised upward the withholding tax rates collected at the time of renewal of private motor cars and registration of new cars/jeep fixed on the basis of engine capacity. According to a notification of the FBR, as per earlier provisions of section 234 of the income Tax Ordinance 2001, withholding tax ranging form Rs. 500 to Rs. 3000 was collected from private motor cars at the time of renewal of registration on the basis of engine capacity.
These rates were originally introduced in 1992. Due to inflation, prices of cars have substantially increased but there was no corresponding increase in the tax rates.
The withholding tax rates, fixed on the basis of engine capacity have, therefore, been revised upward.
However, the tax so collected shall remain adjustable as before against final tax liability of owner of the cars.
Withholding Tax to be paid under section 234 (as revised through Finance Act 2008) at the time of annual renewal of registration of motor cars of jeeps is as under:-
Engine Capacity Amount of Tax Rs
(a) upto 1000cc 750
(b) 1001cc to 1199cc 1250
Ā© 1200cc to 1299cc 1750
(d) 1300cc to 1599cc 3000
(e) 1600cc to 1999cc 4000
(f) 2000cc and above 8000
