World Bank recommends Pakistan consolidated GST regime The World Bank is advocating for Pakistan to merge its federal and provincial revenue agencies into a unified General Sales Tax (GST) collection entity, as recommended by the World Bank. However, this entails significant legislative hurdles and potential
B2B and B2C requirements being phased in The Pakistan Federal Board of Revenue is introducing a mix of centralised e-invoicing and fiscal systems or registers for B2B and B2C invoicing, respectively. On 10 January 2024, the Board issued a notice for the Fast Moving Consumer
Debt talks with International Monetary Fund prompt 1% sales tax rise 14 February 2023 The Pakistan Parliament has passed a supplementary Finance Bill with a 1% rise in its sales tax from 17% to 18%. This would secure badly needed funding to cover import costs
Federal Bureau of Revenue brings many more business into tax net Pakistan is set to reduce the annual threshold above which businesses must register for Sales Tax. The new limit will be PKR 8m (approx $45k or €40k) per annum, up from PKR 10 million.
Pakistan has imposed a 2% withholding sales tax on marketplaces’ third-party sales. This came into effect on 1 September 2021 according to the Pakistani Federal Board of Revenue Ordinance No. XXII of 2021. Pakistan backtracks on e-commerce VAT This is a reversal of the plan
UPDATE: this measure since replaced by 2% Withholding VAT on marketplaces from 1 September 2021. Pakistan’s budget includes provisions to bring online marketplaces into the federal sales tax net. They will become responsible for levying and collecting the 17% sales tax. The new measure will come
Pakistan has offered delays on Sales Tax and Federal Excise returns. This will cover the July 2021 taxable transactions. The new dates according to an ordnance issued on 13 August 2021 by the Federal Board of Revenue, Inland Revenue, are as follows: Filing of Sales
