LAHORE – The Excise and Taxation Department has revised transfer and registration fees for vehicles in line with the budget for the fiscal year 2023-24.
According to a notification, the transfer fee for motorcycles has been increased from Rs150 to Rs500 with effect from July 7, 2023. Similarly, the transfer fee for vehicles up to 1000c has been increased from Rs1,200 to Rs2,500.
The transfer fee has been increased for the first time in 19 years.
For up to 1800cc vehicles, the transfer fees have been increased from Rs2,000 to Rs5,000 while above 1800cc the excise department will collect Rs10,000 as compared to the previous Rs3,000. The transfer fee for commercial vehicles has been increased from Rs4,000 to Rs5,000.
The department has reduced registration fees for 1501-2000cc vehicles from 3 per cent to 2 per cent.
It has also extended a 95% discount on motor vehicle tax for electric vehicles till June 2025. It has also announced a new withholding tax on registration of vehicles above 2001cc.
Vehicles previously having a token tax of Rs2,500 per seat will now be taxed according to the engine capacity.
