Punjab Announces Vehicle Token Tax Discount

Web Desk

03rd Aug, 2024. 10:48 pm
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Punjab Announces Vehicle Token Tax Discount

ISLAMABAD – Car owners in Punjab can now enjoy a significant benefit as the Excise and Taxation Department has announced a 10 percent discount on vehicle token taxes for payments made through the ePay Punjab app.

This initiative aims to reduce long queues and allows users to complete transactions from the convenience of their homes.

With the ePay Punjab app, car owners can handle various tax payments online, including their token tax, which eliminates the need for time-consuming visits to government offices. This discount is available until August 30th, providing a temporary opportunity for savings.

Additionally, the provincial government has introduced changes to the token tax policy in the 2024 budget. Under the new policy, if the ownership of a vehicle with an engine capacity of up to 1000cc is transferred, the full token tax must be paid again.

Annual Token Tax

Engine Capacity	Annual Token Tax
1000cc to 2000cc	0.2% of the invoice value
Over 2000cc	0.3% of the invoice value

Lifetime Token Tax

Description	Previous Amount	New Amount	Discount	Conditions
Cars up to 1000cc	Rs. 15,000	Rs. 20,000	10% discount	Transfer within 10 years
Cars 1000cc – 2000cc	Based on engine capacity	0.2% of invoice value	N/A	–
Cars over 2000cc	Based on engine capacity	0.3% of invoice value	N/A	–