Govt to shift advance tax load to upper class: Miftah

ISLAMABAD, Jun 10 (APP): Minister for Finance and Revenue Miftah Ismail on Friday said the federal government had proposed to increase advance tax on 1600 cc and above vehicles under policy of shifting tax load to upper class.

In his budget 2022-23 speech in the National Assembly, he said in case of purchasing an electric vehicle the buyers would have to pay 2 per cent advance tax upon actual cost of the vehicle.

The ratio of this tax, he said was also enhanced for non filers from 100 per cent to 200 per cent.