Federal Board of Revenue (FBR) has reduced the Capital Value Tax (CVT) on vehicles from 2% to 1% under the amended Finance Bill 2022.

The post FBR Reduces CVT on Vehicles Under Amended Finance Bill 2022 first appeared on CarSpiritPK and is written by UsmanAnsari.

There is another new tax that will be applicable on cars with smaller engines but having a price tag above Rs 5.0 million

The post New Tax on Cars with Prices over Rs 5.0 Million first appeared on CarSpiritPK and is written by UsmanAnsari.

The newly formed coalition government has unveiled the “toughest” federal budget for the fiscal year 2022-23 in the National Assembly with an outlay of Rs 9.5 trillion

The post Budget FY2022-23: More Taxes Imposed on New Cars first appeared on CarSpiritPK and is written by UsmanAnsari.

The government has finalized a ‘mini-budget’ involving fiscal adjustments and expenditure cuts worth nearly Rs 600 billion as part of an understanding with the International Monetary Fund (IMF) to cool down the over-heating economy.

The post Govt to Make These Auto Related Amendments in Mini Budget first appeared on CarSpiritPK and is written by UsmanAnsari.

The government is reportedly considering to introduce a new car financing scheme with a lower interest rate to facilitate customers who are unable to buy a car after major price hikes during the past few years.

The post Govt to Introduce New Car Financing Scheme for Small Car Buyers first appeared on CarSpiritPK and is written by UsmanAnsari.

Federal Minister for Finance Shaukat Tarin in a National Assembly session held today has announced that up to 1,000cc vehicles will be exempted from taxes in the federal budget for FY2021-22.

The post Govt Announces Tax Exemptions for 1000cc Cars first appeared on CarSpiritPK and is written by UsmanAnsari.

Government is reportedly considering to enhance tax relief for cars up to 1,000cc in the Finance Bill 2021, with the aim of promoting affordable cars and localization in the country.

The post Govt Considering Tax Relief to Make Up to 1000cc Cars Affordable first appeared on CarSpiritPK and is written by UsmanAnsari.

Government in the newly announced Financial Budget for FY2021-22 has reduced taxes on small cars which will likely bring them more within the reach of common buyers.

The post Tax Reductions on Small Cars in Budget 2021-22 first appeared on CarSpiritPK and is written by UsmanAnsari.

The government is considering to reduce taxes on new imported and locally assembled cars of up to 800cc engine capacity …

The post Government Considering to Slash Taxes on Cars  first appeared on CarSpiritPK and is written by UsmanAnsari.

The government in Financial Budget 2020-21 has announced to add 7.5% FED on double cabin 4x4 vehicles that are assembled locally and 25% FED on such cars being imported in the country.

The post Toyota Hilux Revo and Isuzu D-MAX Prices to Increase Under Budget 2020-21 first appeared on CarSpiritPK and is written by UsmanAnsari.