Budget 2021/2022: Input tax allowed to companies listed on stock exchange

Budget 2021/2022: Input tax allowed to companies listed on stock exchange

ISLAMABAD:  The government has announced input sales tax adjustment for companies listed on Pakistan Stock Exchange (PSX) to promote corporatization in the country.

Finance Minister Shaukat Tarin while presenting federal #budget 2021/2022 on Friday said that relaxation of restriction on input tax adjustment under section 8B of Sales Tax Act, 1990 had been granted.

He said that removal of restriction on input tax allowance under sales tax law has been a major demand from business community; however, considering the importance of minimum value addition on VAT model, it is proposed to eliminate this restriction on highly regulated corporate sector that is public limited companies listed on Pakistan Stock Exchange.

This would be a big breakthrough for further corporatization of economy and facilitation of regulated corporate sector.

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