Kia Lucky Motor has implemented the new advance taxes by the current government and here are the prices of new Kia cars in Pakistan for both filers and non-filers.
|Product||Variant||Ex-Factory – PKR||CVT||Further Sales Tax (3%)||WHT Filer – PKR||WHT Non Filer – PKR||Total Price (Income Tax Filer) – PKR||Total Price Income Tax (Non Filer) – PKR|
CVT stands for ‘Capital Value Tax’. The prices of both Kia Carnival variants remain the same. The Grand Carnival GLS is priced at PKR 9,199,000 whereas the Grand Carnival GLS+ is priced at PKR 11,499,000.
The prices are applicable from today, 5th July 2022.
The government has imposed heavy taxation on carmakers in Pakistan. And one of those taxes is the revised advance taxation. The non-filer will be expected to pay 200% of what they were paying before. The current advance tax came into effect from 1st July 2022. It means it was only a matter of time the automakers would have started implementing already. And after Suzuki, Kia is the next one to do so. Also, with the impending 10% super tax has some affect on these prices as well.
Along with the 100% and 200% additional advance taxes on filers and non-filers respectively, the government implemented additional 2% CVT (capital value tax) on cars worth more than 5 million.
The cars are becoming increasing out of reach for most of the people in Pakistan. It almost feels like the government wants people to stop buy cars and in return making the car companies to shut down because they won’t be able to be profitable. This is a very dangerous situation for not only these car companies on an individual level, but also for the economy and the country on the whole.
On the other hand, we have the ever-rising fuel prices as well. The the overall demand of fuel in Pakistan has started to shrink. The numbers provided by Oil Companies Advisory Council (OCAC) show that petrol’s demand has reduced from 713,000 tons in May to 702,000 tons in June. Similarly, the demand of diesel fell from 776,000 tons in May to 713000 tons in June. Keep in mind with the latest petroleum price jump of July will only add to the misery and this demand will further reduce.
Add heavy taxes and high fuel prices, people will stop buying cars altogether.
Let us know what you think of the new taxes and new Kia prices in the comments below.