New incentives offer by Punjab Govt on motor tax to provincial consumers in the FY budget 2020-21. In the budget speech, Punjab Finance Minister Makhdoom Hashim Jawab Bakht said citizens can avail 20% by paying token tax before 31st August 2020. The person who failed to pay the tax on the due date cannot be able to get this incentive.
He also said that consumers can avail of a 5% discount by paying total tax through E-System and this offer valid till June 30, 2020.
Tax relief for Ride-Hailing Apps in FY Budget 2020-21:
Previously ride-hailing apps pay 16% to the government under the budget of FY 2019-2020. The government gives high tax relief to these apps and now they have only pay 4% tax under the FY budget 2020-21. Government has introduced separate division for this sector and after this new tax relief, 69 more services has added.
The financial year of 2020-2021 is going very hard for the government because of the COVID-19 outbreak. The government tries its best to provide maximum relief to the public.
On the other side, the FY budget 2020-21 is hard for two cabin vehicles like Hilux Revo and ISUZU D-Max. As the government has increased tax on these vehicles.
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