Originally published at: https://www.pakwheels.com/blog/new-advance-tax-on-cars-for-filers/
The government presented the Annual Budget 2022-2023 on Friday. The new budget proposed to increase the Advance Tax on cars above 1600cc without mentioning the inflation percentage for filers. Soon after, the government issued the Finance Bill to quantify the things proposed in the budget. And now the proposal has been accepted by the government, meaning these taxes are now implemented from July 1, 2022.
As per the Finance Bill, here’s the list of proposed Advance Tax, also known as Withholding Tax, on locally assembled cars in Pakistan.
Up to 850cc
Advance Tax on cars up to 850cc will increase by Rs. 2,500 for filers. Previous Advance Tax New Advance Tax
Rs. 7,500 Rs. 10,000
This new tax will apply to the following small cars.851cc to 1000cc
Advance Tax on cars from 851cc to 1000cc will increase by Rs. 5,000 for filers. Previous Advance Tax New Advance Tax
Rs. 15,000 Rs. 20,000
This new tax will apply to the following small cars.1001cc to 1300cc
Advance Tax on cars from 1001cc to 1300cc will remain unchanged for filers. Previous Advance Tax New Advance Tax
Rs. 25,000 Rs. 25,000
We have the following locally assembled cars in this category.1301cc to 1600cc
Advance Tax on cars from 1301cc to 1600cc will remain unchanged for filers. Previous Advance Tax New Advance Tax
Rs. 50,000 Rs. 50,000
We have the following locally assembled cars in this category.1601cc to 1800cc
Advance Tax on cars from 1601cc to 1800cc will be doubled for filers. Previous Advance Tax New Advance Tax
Rs. 75,000 Rs. 150,000
This new tax will apply to the following car.1801cc to 2000cc
Advance Tax on cars from 1801cc to 2000cc will be doubled for filers. Previous Advance Tax New Advance Tax
Rs. 100,000 Rs. 200,000
This new tax will apply to the following cars.2001cc to 2500cc
Advance Tax on cars from 2001cc to 2500cc will be doubled for filers. Previous Advance Tax New Advance Tax
Rs. 150,000 Rs. 300,000
This new tax will apply to the following cars.2501cc to 3000cc
Advance Tax on cars from 2501cc to 3000cc will be doubled for filers. Previous Advance Tax New Advance Tax
Rs. 200,000 Rs. 400,000
This new tax will apply to the following cars.Above 3000cc
Advance Tax on cars above 3000cc will be doubled for filers. Previous Advance Tax New Advance Tax
Rs. 250,000 Rs. 500,000
This new tax will apply to the following car.
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Share your questions and feelings about the Advance Tax hike for cars.
