The Federal Budget 2024–25 has proposed significant tax increases on imports, which could result in higher prices for all motor vehicles
. This includes Honda bikes such as the Honda CD 70, Honda CG 125, Honda CD 70 Dream, and Pridor.
The federal government has announced higher import duties on essential raw materials like steel, paper products, and spare parts. This move aims to stimulate local manufacturing and assembly of cars and motorcycles in Pakistan. Additionally, import tax exemptions on luxury vehicles, particularly those valued at $50,000 or more, have been eliminated. These vehicles will now face higher taxes and duties, impacting their market prices.
The government has set a tax collection target of Rs 12,970 billion for the upcoming fiscal year. This goal will be achieved through increased income and sales tax collections, along with higher import duties on luxury items. Efforts to broaden the tax base by including more taxpayers are also part of this strategy.and other motorcycles in the coming months.
Stay informed about the latest developments in the automotive sector and how they may impact consumers and businesses across Pakistan.As of July 2024, the Honda CD 70 is priced at Rs 157,900. However, the price may change following the approval of proposals in the Federal Budget 2024-25 next month.Lahore: Following the approval of the Federal Budget, a series of tax...
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