Punjab Registers Most Expensive Vehicle in Pakistan’s History, Paying Rs 90 Lacs in Taxes
The Punjab Excise and Taxation Department has recently registered a luxury SUV Range Rover, setting a new record for the most expensive vehicle ever registered in the region. With a total price of Rs 172,687,000, the taxes paid for the vehicle amounted to an astounding Rs9,110,656.
This significant tax payment includes various charges such as withholding tax, transfer fee, registration fee, number plate fee, automated registration card fee, income tax, capital value tax, motor vehicles tax, and registration number fee. While the owner’s identity remains undisclosed for privacy reasons.
Punjab’s Excise and Taxation Department made headlines by registering a luxury SUV Range Rover. It now holds the distinction of being the most expensive vehicle ever registered in the region’s history. The exorbitant total price of the vehicle, amounting to Rs 172,687,000, reflects the opulence and exclusivity associated with this particular model.
What sets this registration apart, the colossal tax payment made by the vehicle owner, totaling Rs 9,110,656. This substantial amount encompasses several taxes and fees imposed by the department. The taxes paid include withholding tax, transfer fee, registration fee, number plate fee, automated registration card fee, income tax, capital value tax, motor vehicles tax, and registration number fee. These charges collectively contribute to the significant overall tax payment.
The Punjab government levies various taxes and fees on high-end vehicles to generate revenue and regulate the automobile sector. The substantial tax payment for this luxury SUV exemplifies the government’s efforts to ensure fairness in taxation while catering to the aspirations of the elite car enthusiasts in the region.
To protect the privacy of the vehicle owner, their identity remains undisclosed. However, this occurrence is not an isolated incident in Punjab. The region has witnessed previous instances of high tax payments for vehicle registration.