KARACHI: The Federal Board of Revenue (FBR) on Friday updated tax rates on motor vehicle for circulation among all the provincial excise and taxation departments for incorporation in their software system and uniform implementation of law.
The FBR updated that tax rate under section 234 of Income Tax Ordinance, 2001 under which tax rate in case of goods transport vehicles is Rs2/kg of the laden weight. Whereas transport vehicle with laden weight of 8,120 kg or more after a period of ten years from the date of first registration, the tax rate will be Rs1200 per annum.
For passenger transport, the FBR said that in the case of passenger transport vehicle plying for hire, seating capacity with four or more person but less than 10 percents the tax rate will be Rs25 per seat per annum. Rs60 per seat per annum has been fixed on 10 or more persons but less than 20 persons. For passenger transport vehicle seating capacity of 20 persons or more the tax rate has been fixed at Rs250 per seat per annum.
The FBR said that in the case of other private motor cars with engine capacity of
a. Up to 1000cc: Rs750
b. 1001cc to 1199cc: Rs1250
c. 1200cc to 1299cc: Rs1750
d. 1300cc to 1599cc: Rs3000
e. 1600cc to 1999cc: Rs4000
f. 2000cc and above Rs8000.
The FBR said that in case of lump sum payment, the tax rate is as:
a. Up to 1000cc: Rs7,500
b. 1001cc to 1199cc: Rs12,500
c. 1200cc to 1299cc: Rs17,500
d. 1300cc to 1599cc: Rs30,000
e. 1600cc to 1999cc: Rs40,000
f. 2000cc and above Rs80,000.
The FBR updated the tax rate under section 231B of Income Tax Ordinance, 2001 for purchase of motor car as:
a. Up to 850cc: Rs10,000
b. 851cc to 1000cc: Rs20,000
c. 1001cc to 1300cc: Rs30,000
d. 1301cc to 1600cc: Rs50,000
e. 1601cc to 1800cc: Rs75,000
f. 1801cc to 2000cc: Rs100,000
g. Above 2000cc: Rs150,000