Punjab assembly approves the finance bill of the year 2019-2020 including the demands which presented on the budget 13 June 2019. The new policies for the automobile sector made by the government, the information we collect from the finance bill 2019-2020 government imposed new taxes on the dealers of local cars and bikes. According to the details, the automobile sector Punjab Government has imposed PKR 6,000-10,000 annual tax on the dealers of motorcycle/scooter.
For the car dealers of small cities annual tax of PKR 10,000 has been imposed and for the big cities car dealers annually PKR 20,000 tax imposed. On the other side, the federal government has also proposed many other policies in its budget 2019-2020 that will be approved on 29th June. The main thing in the budget 2019-2020 that how much FED imposed on the cars.
Below is the proposed FED mention accordance to the category:
Cars up to 1000cc engine displacement the 2.5% FED to be imposed on it.
Cars up to 1001cc and 2000cc the 5% FED to be imposed on it.
Cars above 2000cc engine the 7.5% FED to be imposed on it.
