Advertisement
Advertisement
Advertisement
Advertisement
Imported Hybrid Car Prices Raised in Budget 2024-2025

Imported Hybrid Car Prices Raised in Budget 2024-2025

Imported Hybrid Car Prices Raised in Budget 2024-2025

Imported Hybrid Car Prices Raised in Budget 2024-2025

Advertisement
  • The government has removed tax exemptions on imported hybrid cars in the 2024–25 budget.
  • These cars will now be taxed at the standard rate based on engine capacity and selling price.
  • Withholding tax on regular cars has increased, raising the price of imported hybrid cars.
Advertisement

The government has removed tax exemptions on imported hybrid cars, as stated in the 2024-25 budget announcement.

These cars will now be taxed at the standard rate, like regular cars, based on engine capacity and selling price. This will significantly increase hybrid car prices in Pakistan, making them harder to sell.

The official budget documents state that tax exemptions on imported hybrid cars were removed because hybrid cars are now being produced locally. With the price difference between regular and hybrid cars decreasing, there is no longer a need for tax exemptions on imported hybrids.

Also Read

Car Prices to Increase in Pakistan in Budget 2024-25
Car Prices to Increase in Pakistan in Budget 2024-25

The government considers raising the withholding tax on new car purchases. A...

Withholding tax on regular cars has also increased, which will further raise the price of imported hybrid cars. This change affects cars of all engine sizes, from below 800 cc to above 2000 cc.

Additionally, the tax exemption on electric vehicles (EVs) has been removed, but this only applies to EVs costing more than $50,000.

Advertisement
Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Follow us on Google News.


End of Article

Next Story