Budget 2021-22: Govt Decision on Taxes Reduction For Small and Electric Cars

Islamabad: Finance Minister Shaukat Tarin announced the budget in which he mentioned the tax on domestically manufactured cars. He referred to reducing the tax rate on locally manufactured cars from 17% to 12.5% The government also announced a significant reduction in the sales tax for electric vehicles from 17% to 1%. He said the federal excise duty would be remov…