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The Sindh Excise and Taxation Department in Pakistan on Monday has increased tax on vehicles through Finance (Supplementary) Act, 2022, leading to an increase in car prices in the country, reported ARY News.
Notably, the National Assembly had passed the controversial Finance (Supplementary) Bill, generally known as the "mini-budget" amid fierce objections from the opposition benches, and after its implementation, the car prices have increased significantly in Pakistan. The tax on cars over 1000cc has been increased to Rs100,000 from the existing Rs50,000. The country is currently under heavy debt and inflation is also soaring rapidly. The tax on vehicles ranging between 1001cc to 2000cc also increased to Rs200,000 compared to the existing Rs100,000 tax while those of 2001cc and above will pay Rs400,000 in taxes, reported the news channel. Earlier, on Saturday, Pakistan Prime Minister Imran Khan has admitted that the people in the country are facing massive inflation as prices of commodities and fuel have surged in the nation, a media report said. (ANI)
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