sales tax Archives - Page 4 of 12

FBR Extends Lower Sales Tax Rate of 1% to Alternative Medicines

July 22, 2023July 22, 2023Shahnawaz Akhter

Karachi, July 22, 2023 – In a move to promote accessibility and affordability of alternative medicines, the Federal Board of Revenue (FBR) has extended the lower sales tax rate of 1 percent to the supply of alternative medicines/medicaments.

Sales Tax Rate Increased to 15% for Tier-1 Retailers of Textile Products

July 22, 2023July 22, 2023Shahnawaz Akhter

Karachi, July 22, 2023 – In a move aimed at generating additional revenue and streamlining the tax structure, the Federal Board of Revenue (FBR) has announced an enhancement in the sales tax rate for Tier-1 retailers of finished fabrics and articles of textile leather, among other materials.

FBR Imposes Sales Tax on Bulk Goods Sold Under Brand Names and Trademarks

July 21, 2023July 21, 2023Mrs. Anjum Shahnawaz

Islamabad, July 21, 2023 – The Federal Board of Revenue (FBR) has taken the decision to apply sales tax on goods supplied under brand names and trademarks.

Retailers to Face Three-Year Jail Term for Selling Contraband Cigarettes

July 5, 2023July 5, 2023Shahnawaz Akhter

Karachi, July 5, 2023 – The tax authorities have issued a stern warning to retailers, informing them of the possibility of a three-year jail term for selling contraband cigarettes. In a bid to curb the sale of unapproved and smuggled goods in the country, the government has recently amended the Sales Tax Act of 1990, […]

Pakistan Retains Higher Sales Tax Rate at 18% for 2023-24 and Onwards

July 5, 2023July 5, 2023Shahnawaz Akhter

Islamabad, July 5, 2023 – In a move that may impact the economy and burden the masses, Pakistan has decided to retain the higher rate of general sales tax at 18 percent for the fiscal year starting July 1, 2023, and continuing onwards. The decision was announced by the Federal Board of Revenue (FBR) sources […]