LAHORE: The Punjab Excise and Taxation (E&T) Department has increased vehicle transfer fees and token taxes across the province as part of its revenue measures for the new fiscal year.
According to officials, the **transfer fee** has been increased by **50 percent** for all applicable vehicle categories.
The **annual token tax** has also been revised, with a **50 percent increase** for vehicles with engine capacities ranging from **1,000cc to 2,000cc**. For vehicles registered after **2001**, the token tax has been increased by **33 percent**.
The department has also revised property tax incentives. The concession on property tax has been reduced from **75 percent to 50 percent**, while the payable portion of the tax has been increased from **25 percent to 50 percent**.
To encourage timely payments, vehicle owners will receive a **10 percent discount** on token tax if it is paid within the **first two months of the fiscal year**.
Similarly, property owners will be eligible for a **5 percent discount** on property tax payments made within the first **three months** of the collection period.
The Excise and Taxation Department has also announced that **water tax and property tax payments will be accepted exclusively through the e-Pay online payment system**, as part of efforts to improve transparency and streamline tax collection.
Tax collection has commenced across Punjab, with the department aiming to collect **Rs124 billion** during the current fiscal year.
