Kia Lucky Motors have revised their car prices as the Federal Government has imposed Capital Value Tax (CVT) on vehicles. According to the details, There will be 1 percent Capital Value Tax or CVT applied to vehicles having over 1300cc engine capacity.
The Capital Value Tax (CVT) will come into effect from 1st July 2022.
It is pertinent to mention that Federal Government has proposed a CVT of 2 percent on vehicles with price tags over Rs. 5 million to include all high-end vehicles in the tax bracket, however, the conditions were later revised by the Federal Broad of Revenue, which lowered CVT to 1 percent and applied it on all vehicles above 1300cc engine capacity.
Read more: Govt Imposes Capital Value Tax on Cars Above 1300cc.
Kia Lucky Motors have added Capital Value Tax (CVT) to their car prices, which have come into effect from 1st July 2022.
Kia Picanto Price in Pakistan
The price of Kia Picanto in Pakistan will not see a change due to the addition of Capital Value Tax (CVT) as it has only been applied to vehicles with engines above 1300cc. Furthermore, the price of Kia Picanto M/T will remain 2,600,000, while the price of the A/T variant will remain at Rs. 2,700,000.
| Model | Old Price (PKR) | CVT (1%) | New Price (PKR) |
|---|---|---|---|
| Picanto MT | 2,600,000 | N/A | 2,600,000 |
| Picanto AT | 2,700,000 | N/A | 2,700,000 |
Kia Stonic Price in Pakistan
The Capital Value Tax (CVT) has been applied to Kia Stonic as it has a 1368cc engine. According to the details, the price of Kia Stonic EX is now Rs. 4,469,250 after imposition of Rs. 44,250 CVT over the old price of Rs. 4,425,000. Similarly, the price of Kia Stonic EX+ is now Rs. 4,772,250 after adding Rs. 47,250 CVT over old price of Rs. 4,725,000.
| Model | Old Price (PKR) | CVT (1%) | New Price (PKR) |
|---|---|---|---|
| Stonic EX | 4,425,000 | 44,250 | 4,469,000 |
| Stonic EX+ | 4,725,000 | 47,250 | 4,772,000 |
Kia Sportage Price in Pakistan
The price of Kia Sportage Alpha in Pakistan is now Rs. 5,353,000 an increase of Rs. 53,000 over the old price of Rs. 5,300,000 after imposition of CVT. Similarly, the price of Kia Sportage FWD is Rs. 5,858,000 after imposition of Rs. 58,000 CVT over old price of Rs. 5,800,000. Meanwhile, the price of Kia Sportage AWD is now Rs. 6,363,000 with increase of Rs. 63,000 due to addition of CVT over old price of Rs. 6,300,000.
| Model | Old Price (PKR) | CVT (1%) | New Price (PKR) |
|---|---|---|---|
| Sportage Alpha | 5,300,000 | 53,000 | 5,353,000 |
| Sportage FWD | 5,800,000 | 58,000 | 5,858,000 |
| Sportage AWD | 6,300,000 | 63,000 | 6,363,000 |
Kia Sorento Price in Pakistan
The price of Kia Sorento 2.4 FWD in Pakistan is now Rs. 6,904,360 after imposition of Rs. 68,360 CVT over old price of Rs. 6,836,000. Likewise, the price of Kia Sorento 2.4 AWD is now Rs. 7,573,990 after adding Rs. 74,990 CVT over old price of Rs. 7,499,000. Meanwhile, the price of Kia Sorento 3.5L is now Rs. 7,573,990 after adding Rs. 74,990 CVT over old price of Rs. 7,499,000.
| Model | Old Price (PKR) | CVT (1%) | New Price (PKR) |
|---|---|---|---|
| Sorento 2.4 FWD | 6,836,000 | 68,360 | 6,904,360 |
| Sorento 2.4 AWD | 7,499,000 | 74,990 | 7,573,990 |
| Sorento 3.5 | 7,499,000 | 74,990 | 7,573,990 |
What do you think about the new Kia car prices with the implementation of Capital Value Tax (CVT)? Let us know in the comments below.
