The Government of Punjab, has just announce an update about Token tax rate of a the most popular car for the middle-class – The Toyota Vitz .
The attractive look and economical fuel efficiency makes Suzuki Alto as a first choice for the Pakistani, including the people of Punjab. The high fuel prices add another reason to choose this vehicle.
On the other hand, low-cost maintenance, availability of spare parts and wide network of service in the country are also among the reasons to buy this car.
In Pakistan, upon buying a new vehicle, you have to pay some government taxes including the token tax.
The Excise, Taxation and Narcotics Control Department of Punjab collects various taxes including the token tax across the province.
The department receives one-time token tax on vehicles with engine capacity up to 1000 cc. In case vehicle above the capacity of 1000 cc the department receives tax on annual basis.
So, the new Toyota Vitz model of 1000 cc engine means the department will collect one time tax from the owner which is Rs15,000 one time on each car.
The tax update is applicable from November, 2023.
Disclaimer: The token tax rates for cars provided herein are subject to change as per government regulations and policies. Users are advised to verify the latest rates from the relevant authorities before making any financial decisions based on the information presented here.