The provincial government of Punjab has announced 10% discount on vehicle token taxes when you pay using the ePay Punjab app. This means you can save money and enjoy a more convenient payment process.
The ePay Punjab app is a useful tool for paying various taxes and fees online. It allows you to pay your token tax directly from your phone, saving you time and avoiding long lines at government offices.
This discount promotes the use of digital payments and reduces cash transactions. It’s a great opportunity to save money. Remember, the offer ends on September 30th, 2024. Download the ePay Punjab app now to take advantage of the savings.
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New Vehicle Token Tax
In the recent fiscal budget for 2024-25, the provincial government introduced a new token tax policy for vehicle owners. Under this policy, new owners of vehicles with an engine capacity up to 1000cc must pay the full token tax again when transferring ownership.
Annual Token Tax
Under the new rules, the annual token tax will be based on the vehicle’s invoice value, not engine capacity:
- 1000cc to 2000cc Vehicles: 0.2% of the invoice value.
- Over 2000cc Vehicles: 0.3% of the invoice value.
Lifetime Token Tax
For vehicles up to 1000cc, the lifetime token tax has increased from Rs. 15,000 to Rs. 20,000. When transferring ownership of a 1000cc vehicle, the new owner must pay the lifetime token tax with a 10% discount if the transfer occurs within 10 years. No lifetime token tax is charged if the transfer happens after 10 years.
