Tuesday, 28 May 2024
Electric Cars Price Tax Reductions

Govt Preparing to Increase Consumption of Electric Vehicles by Reducing Taxes and Prices

Relevant institutions have taken practical steps to increase the use of electric vehicles in Pakistan by reducing tax and prices.

Rana Qamar Al Hassan, Director, Excise and Taxation Department, Punjab, said that the government planned to increase the use of electricity instead of petrol in vehicles so as to reduce the import of petrol at high prices along with environmental pollution. It also decided to reduce the excise tax on vehicles. It proposed to the government to reduce the excise tax on vehicles up to 2,000 cc and bring it to the level of Islamabad.

The excise department has decided to reduce the applicable registration fee by 50% and token tax by 75%. Depending on the horsepower of electric vehicles. This will also affect the prices of vehicles and increase usage.

Parliamentary Secretary for Commerce Alia Hamza said the government was investing 1 billion dollar to boost the auto industry. Govt planned to set up new plants and units. The launch of seven new manufacturers has created a competitive atmosphere in the market. Which has increased the quality and variety of vehicles. It will also reduce prices, and local production of vehicles and motorcycles. The new policy aims to provide affordable, quality and safe vehicles to the citizens.

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Electric Cars | Taxes | Excise Tax | Import of Cars | Reduction | Price | FBR | Federal Board of Revenue |

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