Finance Ministry explains mechanism of imposing carbon tax

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The carbon tax recently imposed on vehicles based on their engine capacities will be levied under three categories, the Ministry of Finance said.

Accordingly, the tax imposed on a 125 CC motorcycle will be Rs 62.50 per annum while the taxation on vehicles with an engine capacity of 1000 CC will be Rs 500 per year.

In addtion, the annual carbon tax on jeeps with an engine capacity of 2600 CC will be Rs 1300.

A carbon tax of Rs 1000 will be levied on passenger buses, the Finance Ministry said.

Buses with a manufacturing date between five to 10 years will be charged Rs 2000 as tax while a tax of Rs 3000 will be imposed on buses with a manufcturing date of over 10 years.

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