KARACHI: The Punjab government has revised the token tax rates for all motor vehicles, effective from July 2024.
In the previous financial year, the Punjab Excise and Taxation Department collected a fixed tax per year based on engine capacity, with a fixed token tax on vehicles up to 1000cc.
However, for the 2024-25 budget, the provincial government has decided to assess the token tax based on the invoice price of the vehicles.
In the fiscal year 2023-24, the excise department collected Rs15,000 as token tax on motor cars. For the fiscal year 2025, this has been increased by Rs5,000, bringing the total to Rs20,000.
Complete Token Tax Structure of Punjab Excise
For vehicles with engine capacity from 1001cc to 2000cc, the excise department will collect 0.2% of the invoice price as token tax.
For vehicles with engine capacity from 2001cc to 2500cc and above, the token tax will be 0.3% of the invoice price.
