KARACHI: Bike prices have jumped in the range of Rs1,500 to Rs6,000 for different variants including motorcycles of Atlas Honda and Yamaha as the auto firms have decided to pass the impact of new taxes on to customers.
Since January 2018, the motorcycle companies have increased prices nine times, said Association of Pakistan Motorcycle Assemblers (APMA) Chairman Muhammad Sabir Shaikh. Previously, the companies increased prices due to rupee depreciation against the dollar, but this time the change in tax rules caused the surge in prices, he said. Chinese companies have also increased prices to adjust the taxes that the government levied in the new budget.
The government has included motorcycle and its spare parts in Third Schedule of the Sales Tax Act 1990 and according to a notification, issued by the Federal Board of Revenue (FBR) on Thursday, the vehicle and its parts will be taxed according to the declared retail prices and not on the basis of customs value.
Atlas Honda raised its CD7O (red and black) price from Rs70,900 to Rs73,900 with total sales tax of Rs10,737. Similarly, the price tag of CD7O Dream (red, black and silver) went up from Rs74,900 to Rs77,900 with total sales tax of Rs11,318.
The price of Pridor (red and black) was increased from Rs96,900 to Rs100,500 with sales tax of Rs14,602 and the price of CG125 (red and black) rose from Rs117,500 to Rs123,500 with sales tax of Rs17,944.
CG125 Self (red and black) also became costlier as its price surged from Rs136,500 to Rs144,900 with sales tax of Rs21,053. The price of CG125 Self (special edition red and black) was increased from Rs137,900 to Rs146,900 with sales tax of Rs21,344, according to the company notification to dealers.
On the other hand, the price of Yamaha YBR 125Z jumped from Rs127,500 to Rs130,500 with sales tax of Rs18,962.
The price of YBR 125G went up from Rs149,500 to Rs153,000 with sales tax of Rs22,231 and the price of YBR 125 swelled from Rs144,500 to Rs147,500 with sales tax of Rs21,432, according to a company notification sent to dealers.
Published in The Express Tribune, July 5th, 2019.
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