Wednesday, October 20, 2021

The government is preparing to end the Rs 330 billion sales tax exemption, FBR sources said

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The government is preparing to end the Rs 330 billion sales tax exemption, FBR sources said
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The government is preparing to end the Rs 330 billion sales tax exemption.

According to Federal Board of Revenue (FBR) sources, the government is preparing to end the Rs 300 billion sales tax exemption.

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According to sources, a tax exemption of Rs 578.45 billion is being given at present.

According to sources, tax exemption will be abolished in the current financial year’s budget through a presidential ordinance.

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According to sources, sales tax exempt items will now be taxed at 17% instead of zero rated while the sales tax rate on exports will remain at zero.

According to FBR sources, the sales tax rate on food and medicine will not change while the sales tax rate on mobile phones can be increased to 17%.

The FBR spokesman was contacted several times for comment, but could not be reached for comment.

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