Car taxation based on engine displacement is commonly referred to as “displacement tax” or “engine capacity tax.” In some countries, …

The post Is it Necessary to Tax Vehicles Based on Engine Displacements? first appeared on CarSpiritPK and is written by Rubab Xahra.

Giving in to the demand put forth by the International Monetary Fund (IMF), the federal government has increased the General Sales Tax (GST) from 17% to 18%, effective immediately from February 15, 2023.

The post Cars to Become More Expensive as Govt Increase GST to 18% first appeared on CarSpiritPK and is written by UsmanAnsari.

Finance Minister Ishaq Dar said that the government has agreed to impose Rs 170 billion in additional taxes during a 10-day extensive discussion with the International Monetary Fund (IMF) program staff-level team on the 9th review.

The post Govt to Impose New Taxes Worth Rs 170 Billion first appeared on CarSpiritPK and is written by UsmanAnsari.

In startling revelations, the government has imposed up to 500% more taxes on imported cars to protect the local car assemblers from foreign competition. In return, however, the assemblers have passed on the agony by overcharging consumers and delaying deliveries for up to one year.

The post 500% More Taxes on Imported Cars to Protect the Local Assemblers first appeared on CarSpiritPK and is written by UsmanAnsari.