FED on cars now categorised into new slabs
ISLAMABAD: The government has proposed a revision in the federal excise duty (FED) on cars, according to State Minister for Revenue Hammad Azhar, who presented the Federal Budget for FY19-20 on Tuesday.
According to Azhar, new slabs were proposed in the Federal Budget in order to enlarge the scope of the FED. “Through Finance Supplementary Second Amendment Act, 2019, FED on cars with engine capacity of 1700 cc and above was introduced at 10 percent,” he said.
Azhar said the government introduced the following slabs in the Federal Budget:
Cars from 0-1,000 CC at 2.5 percent
Cars from 1,001-2,000 CC at 5 percent
Cars from 2,001 and above at 7.5 percent
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