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The government just released the budget for 2024-25. According to the new budget summary, the government has proposed a hike in the WHT (Withholding Tax) on new cars.

Furthermore, a change in the calculation of new car registration charges has been introduced in the budget. In the past, registration charges were based on the engine sizes of vehicles. However, the latest budget suggests that registration charges will now be calculated based on the invoice price of the car and not as per the engine capacity (applicable on ars up to 2,000cc).

Here’s the revised registration charges with examples:

For example, if you had previously bought a Suzuki WagonR for 3.8 million PKR, you would have paid 20,000 PKR on registration charges. Now, with new charges, you’ll pay 38,000 PKR in registration charges.
For instance, consider a scenario where the regular duty on a 1,500cc car amounts to 1 million PKR, which represents 30% of the car’s overall value. Under the old policy, the government used to charge 25% of the car’s value, resulting in a duty of 750,000 PKR. This change signifies a shift towards a standardized duty rate for HEV imports, eliminating the previous concession granted to such vehicles.

Now, this exemption is removed, and the customer will have to pay full customs duty.