Budget 2021-22: Govt proposes cut in taxes for small and electric cars
ISLAMABAD-The Federal Government is proposing a reduction of the taxes, fees, and charges, both imported and locally, in the 2021-22 budget, in order to make life easier for the general public.
Finance minister Shaukat Tarin, who presented the budget at the head of the PTI government has said that the value-added tax, is locally produced, the car is about to be lifted.
And he said, adding that all of the vehicles in Pakistan, will be subject to the provisional duties imposed, and added that the tariffs on electric cars are going to be affected in any one year.
The government is also proposing to reduce the burden of taxation in the latter category, and some of the kinds of trucks and tractors.
He also proposed to lower the tax from 17% to 1% of electric vehicles, the government is trying to promote the use of electric vehicles to reduce carbon emissions and address climate-related issues.
He also proposed to suspend the tariffs and customs duties on the import of vehicles, the number is already in the 850 cubic meters a year.