ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday reduced rate of sales tax on supply of petrol (Motor Spirit). The revenue body issued SRO 1072(I)/2021 to make change in sales tax rate on supply of petrol. According to the notification the sales tax rate on supply of petrol has been reduced to 10.54 per […]
KARACHI: Pakistan Tax Bar Association (PTBA) has suggested gradually reduction of sales tax rate under five-year policy and for first year the sales tax rate should be brought down to 15 percent from next fiscal year. In its budget proposals for 2019/2020, the PTBA said that present rate of Sales Tax at 17 percent with […]
KARACHI: Karachi Tax Bar Association (KTBA) has suggested the tax authorities for introduction of full fledged value-added tax (VAT) and reduction of sale tax rate up to 10 percent in order to discourage under invoicing, corruption and smuggling. The KTBA recently organized pre-budget seminar to formulate tax proposals for budget 2019/2020. Saud-ul-Hassan, Director Tax at […]