What is the annual token tax in Punjab compared to federal for FY19-20? Know Here
The lifetime annual token tax is similar for all cars up to 1000cc engine capacity, no matter what the price of the car is.
Lifetime token tax has been imposed on cars up to 1000cc in Punjab.
The step has garnered a lot of criticism on by driver community particularly, driving Suzuki FX or Mehran.
The lifetime annual tax is similar for all cars up to 1000cc engine capacity, no matter what the price of the car is.
In the newly introduced budget for the year 2019-20, lifetime token tax has been imposed on cars up to 1000cc as in Punjab. The decision has lead to extreme criticism on the incumbent government from taxi drivers particularly, who are the most regular users of Suzuki FX or Mehran.
The key reason for the criticism is that the token tax is the same for all cars up to 1000cc engine capacity, no matter what their worth is. This means that a model dating a decade back and today, if has the same engine capacity, will have to pay the same tax.
What the tax for 1000cc cars?
The tax that a 1000cc engine user will be required to pay on the token is Rs 21,000 for filers and Rs 31,000 for non-filers. The tax applies to all Suzuki Alto, Wagon R, Cultus, Bolan, Ravi and United Bravo. It must be kept in consideration that the said tax comprises of token tax, income tax, and professional tax.
The professional test for all the categories is the same, i.e, Rs.100. However, it is Rs.1000 for the lifetime category in the federal capital. All variants of Toyota Corolla XLi and GLi have been placed alongside FAW V2 in the 1200 cc to 1299 cc category. The annual taxes for the said category will be Rs. 3350 and Rs. 5100 for filers and non-filers respectively.
1301 cc to 1499 cc cars generate the most sales in Pakistan. The category includes all variants of Honda City, Civic RS Turbo and Suzuki Swift. For them, Rs. 6600 for filers and Rs. 9100 for non-filers.
All other variants of the Toyota Corolla and Honda Civic fall in the 1600 cc to 1999 cc engine displacement category and have a token tax of Rs.9600 and Rs.14,100 for filers and non-filers. For the vehicles over 2500 cc, the tax will be Rs. 22,100 for filers and Rs. 32,100 for non-filers.
Here is the comparison chart between taxes of Punjab and Federal
Via: Pak Wheels
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