Budget 2022-23: How much tax imposed on cars from 850cc to 3000cc

ISLAMABAD: The government has released the fiscal budget for the fiscal year 2022-23, which includes several substantial adjustments. The government has raised the levy on cars with more than 1,600cc of horsepower in the 2023 budget.

“Provided that in cases where engine capacity is not applicable and the vehicle’s value is Rs5 million or more, the rate of tax collectable shall be 3% of the import value, as increased by customs duty, sales tax, and federal excise duty in the case of imported vehicles, or invoice value in the case of locally manufactured or assembled vehicles,” the Finance Bill stated.

The following is a list of automobile taxes to be paid:

S.No	Engine Capacity	Tax
(1)	(2)	(3)
1.	Upto 850cc	Rs10,000
2.	851cc to 1000cc	Rs.20,000
3.	1001cc to 1300cc	Rs25,000
4.	1301cc to 1600cc	Rs50,000
5.	1601cc to 1800cc	Rs150,000
6.	1801cc to 2000cc	Rs200,000
7.	2001cc to 2500cc	Rs300,000
8.	2501cc to 3000cc	Rs400,000
9.	Above 3000cc	Rs500,000

RELATED: BUDGET 2022-23: Govt hs imposed a new tax on all cars worth more than Rs. 5 million

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