Govt Decides to Reduce the Vehicle Tax in FY 2022-23

The good news for Pakistanis is the possibility of reducing car prices. In the new budget, there is a possibility of lowering vehicle prices under government measures.

Govt Decides to Reduce the Vehicle Tax

According to the details, in the budget 2022-23, a proposal to reduce vehicle tax is under consideration, which is likely to reduce the price of vehicles to some extent.

Budget 2022-23 is considering a reduction of Federal Excise Duty and Additional Customs Duty on vehicles. A proposal to reduce Federal Excise Duty on cars by 2.5% and Additional Customs Duty by 2% is considered.

On the other hand, car manufacturers and assemblers have raised prices even before the budget. Expensive dollars, increases in raw material prices, and freight charges have been blamed for rising car prices.

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