Vehicle Registrations to Be Canceled After January 1 for Token Tax Deadline

The Excise and Taxation Department has introduced a tough new policy against defaulters of the vehicle token taxes.

Token Tax Deadline

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As claimed by the department, the token taxes unpaid by January 1, 2024 would lead to cancellation of the vehicle registration. Moreover, under the new regulation, the defaulters will be charged 200% penalty.

Token Tax Payment Date

To ensure compliance, the department has offered a 20-day grace period for vehicle owners to clear their outstanding token taxes.

The spokesperson of the Excise and Taxation Department appealed to citizens to act swiftly, citing the need to pay on time to avoid legal repercussions.

Penalties for Non-Compliance

Vehicles with unpaid token taxes after January 1 will be taken to court. The spokesperson explained the consequences, saying that in case of late payment of taxes, heavy fines and even cancellation of vehicle registration will be imposed.

Deputy Commissioner Islamabad Ensures Implementation

Islamabad Deputy Commissioner Irfan Memon confirmed the commitment of the government towards the policy. “We will take action against all vehicles having undischarged token taxes after January 1. People are being requested to save themselves from the surcharge by depositing it in time.

This policy aligns with the government’s broader initiative to combat tax evasion. The Federal Board of Revenue (FBR) aims to meet its ambitious target of collecting PKR 980 billion in taxes by December 2024. However, as of now, only PKR 775 billion has been collected in the first four months of the fiscal year.

How to Pay Token Tax: Vehicle Registrations to Be Canceled After January 1 for Token Tax Deadline

The Excise and Taxation Department has made the payment process of token tax much more easy. Vehicle owners are urged to visit their nearest excise office or use online media for timely payments and avoid unnecessary complexities.

Why This Policy Matters; Vehicle Registrations to Be Canceled After January 1 for Token Tax Deadline

The new policy is part of the government’s efforts to improve tax compliance and ensure a just system for everyone. Vehicle owners must follow these guidelines to avoid penalties and smooth vehicle registration processes.

For more information, the public is advised to call their local Excise and Taxation office or visit the official website.

Vehicle Registrations to Be Canceled After January 1 for Token Tax Deadline

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