Hyundai Nishat Motor has increased the price of Hyundai Sonata 2.5L in Pakistan after the change in Advance Tax following implementation of the Finance Act 2023-24 from 1 July 2023.
In a notification, the company said, “The advance income tax for vehicles with engine capacity of 2001cc and above has been changed from a fixed amount to a percentage-based tax value on the vehicle,”
The new prices will be applicable from 1 July 2023.
Hyundai Sonata 2.5L Price in Pakistan
The price of Hyundai Sonata 2.5L in Pakistan with Advance Tax for Filers is Rs. 11,956,800, while the price for Non-Filers is Rs. 12,410,400.
| Model | Price for Filers (PKR) | Price for Non-Filers |
|---|---|---|
| Hyundai Sonata 2.5L | 11,956,800 | 13,310,400 |
Advance Tax Broken Down
According to the details, the price of the Hyundai Sonata 2.5L is Rs. 11,280,000 with a previous tax rate of Rs. 300,000 for both Filers and Non-Filers without implementation of the new Advance Tax.
For Filers, the Advance Tax is now 6% with a tax value of Rs. 676,800, which means a difference of Rs. 376,800, bringing the price of the vehicle for Filers at Rs. 11,956,800.
For Non-Filers, the Advance Tax has been raised to 18% taking the tax value to Rs. 2,030,400, which means a difference of Rs. 1,130,400, bringing the new price of Sonata 2.5L at Rs. 13,310,400.
Read more: Peugeot 2008 Gets a Price Hike in Pakistan – July 2023.
