LAHORE – The Punjab Excise and Taxation Department is responsible to collect token tax on motorcycles and vehicles from citizens.
Motor Vehicles Tax is an important levy of Excise & Taxation Department. It brings considerable revenue and is another major source of income to the exchequer. It is administered under the provisions of the Motor Vehicle Ordinance, 1965 and Motor Vehicle Tax Act, 1958.
The token tax is usually collected annually but the department collects one-time lifetime token tax on some vehicles with engine capacity up to 1000cc.
The annual token tax is based on various factors, including the type of vehicle, its engine capacity, and its age.
Suzuki WagonR, Suzuki Alto Token Tax Update
The buyers of Suzuki WagonR 998cc and Suzuki Alto 660cc are required to pay the one-time token tax at the time of purchasing the car.
The Punjab government revised up the token tax for various vehicles in Budget for fiscal year 2024-25. As per official website, the token tax for WagonR and Alto is same as both fall in the category of vehicles of up to 1000cc engine capacity.
The excise department charges Rs20,000 in the wake of token tax on Suzuki WagonR and Alto, as of October 2024.
“If engine power up to 1000cc, is transferred within ten years of such registration, an amount of Rs.20,000/- with a rebate equal to 10% for each financial year, shall be charged,” read official statement.
