Due to the recent imposition of a 25% General Sales Tax (GST) on expensive goods by the federal government of Pakistan, Toyota Indus Motor Company (IMC) has announced an increase in the price of its cars. A new sales tax notification issued under SRO 297(1)/2023 by the Federal Board of Revenue (FBR) confirms the tax.
According to IMC, the company is finding it challenging to maintain its current retail selling prices due to economic uncertainty and the highly volatile situation of the Pakistani rupee against the US dollar. It has therefore been forced to pass some of these effects along to customers.
A Statutory Regulatory Order (S.R.O. 297(I)/2023), issued by the Government of Pakistan in accordance with the Sales Tax Act of 1990, also raises the sales tax rate to 25% on all Completely Knocked Down (CKD) vehicles with an engine capacity of 1400cc and above, with the exception of IMV-I Single Cabin.
- Toyota Yaris 1.3 MT LO now costs Rs. 4,499,000 instead of Rs. 4,316,000.
- Toyota Yaris 1.3 CVT LO has a new price of Rs. 4,789,000 compared to the old price of Rs. 4,588,000.
- Toyota Yaris 1.3 MT Hi now costs Rs. 4,759,000 instead of the old price of Rs. 4,558,000.
- Toyota Yaris 1.3 CVT Hi also has an updated price of Rs. 4,999,000 instead of the old price of Rs. 4,790,000.
- Toyota Yaris 1.5 MT used to cost Rs. 4,911,000, but now its new price is Rs. 5,429,000.
- Toyota Yaris 1.5 CVT now costs Rs. 5,769,000 instead of the old price of Rs. 5,213,000.
- Last week, the Toyota Corolla 1.6 MT was priced at Rs. 5,576,000, but after an increase, it is now priced at Rs. 6,169,000.
- Toyota Corolla 1.6 CVT was also raised to Rs. 6,769,000 compared to the old rate of Rs. 6,111,000.
- Toyota Corolla 1.6 CVT SR was priced at Rs. 6,716,000, but today, it has been raised to Rs. 7,429,000.
- Toyota Corolla 1.8 CVT used to cost Rs. 6,423,000, but now its price has been hiked to Rs. 7,119,000.
- Toyota Corolla 1.8 CVT SR had an old price of Rs. 6,998,000 and now it costs Rs. 7,759,000.
- Toyota Corolla 1.8 CVT SR BLK used to have a price tag of Rs. 7,039,000 but now its rate is Rs. 7,799,000.
- Toyota Revo V AT 2.8 used to cost Rs. 12,969,000 but now costs Rs. 14,389,000.
- Toyota Revo V At Rocco had a price of Rs. 13,675,000 a few days ago. Now it costs Rs. 15,179,000.
- The price of a Toyota Fortuner 2.7 G Petrol has increased from Rs. 14,230,000 to Rs. 15,809,000.
- The Toyota Fortuner 2.7 V Petrol had a price of Rs. 16,297,000, but has now been slashed to Rs. 18,099,000.
- The price of the Toyota Fortuner 2.8 Sigma 5 Diesel has increased from Rs. 17,175,000 to Rs. 19,079,000.
- The new price for the Toyota Fortuner Legender Diesel is Rs. 20,129,000, which is higher than the previous price of Rs. 18,112,000.