LAHORE – The Punjab government has jacked up toke tax rate for all vehicles, with effect from July 1, 2024 (today). People buying cars and other vehicles from the running month will pay higher token tax.

In Budget 2024-25, which sailed through the provincial assembly last month, the lifetime token tax on cars with engine capacity 1000cc has been increased while the token tax for vehicle with engine capacity above 1000cc will be evaluated on the basis of the invoice price instead of engine size.

Suzuki Alto boasts 660cc engine, therefore, the Excise and Taxation Department collects lifetime token tax on it.

Suzuki Alto

With its attractive look and fuel efficiency, Suzuki Alto has become a top choice people in Pakistan, including Punjab, due to high petrol prices.

Affordable maintenance cost, parts availability, and wide service network across Pakistan, are also among the factors increasing its demand in the country.

When you buy a new vehicle, you have to pay some compulsory payments to the government in wake of taxes. These taxes also include token tax.

The Excise, Taxation and Narcotics Control Department of Punjab is responsible for collection of various taxes and duties, including motor vehicle token tax, across the province.