Sales tax value addition at 3 percent applicable on all imported goods

ISLAMABAD: Sales tax on account of minimum value addition at three percent is applicable on all imported goods subject to exclusions on import of various imported goods. According to Sales Tax Act, 1990, all imported goods are subject to 3 percent ad valorem subject to exclusion as in conditions and procedure. The government recently abolished […]

by Mrs. Anjum Shahnawaz

Implementing full-fledged VAT regime in next two to four years decided

Nov 3

Taxation

Implementing full-fledged VAT regime in next two to four years decided

ISLAMABAD: The government has decided to implement full-fledged Value Added Tax (VAT) by eliminating General Sales Tax (GST) in next two to four years. This has been decided at a meeting under the chairmanship of the prime minister held last month. According to the minutes of the meeting, it was considered that VAT regime instead […]

by Mrs. Anjum Shahnawaz

Protest on June 10 against plan to abolish zero-rate sales tax

Jun 9

2019-2020, Budget, Trade & Industry

Protest on June 10 against plan to abolish zero-rate sales tax

KARACHI: Textile value added sector has announced to stage protest on Monday June 10, 2019 against proposed plan to abolish sales tax zero-rating for export sector. Muhammad Jawed Bilwani, Chief Coordinator for Five Zero Rated Export Sectors in a statement on Saturday said that the exporters and manufacturers would stage peaceful protest outside the Karachi […]

by Faisal Shahnawaz

Complete VAT system planned under medium term fiscal framework

Jan 13

Taxation

Complete VAT system planned under medium term fiscal framework

ISLAMABAD: The government is planning to a complete Value Added Tax (VAT) regime under its medium-term fiscal framework, aiming to make significant changes in taxation, according to sources.

by Mrs. Anjum Shahnawaz