The Pakistan Stock Exchange (PSX) has called on federal and provincial governments to address conflicts over the collection of sales tax on services. PSX wants the Council of Common Interest (CCI) to resolve the jurisdiction differences among provinces. They hope CCI will create a fair revenue-sharing formula for each province to end the ongoing dispute. […]
sales tax
Government plans to remove sales tax on local cotton products to boost Industry
The federal government is moving forward with a plan to remove the 18% sales tax on local cotton, yarn, and grey cloth. This decision aims to support local products and make them more competitive against imports. A committee of federal ministers and secretaries discussed the proposal after multiple industry requests. Key stakeholders included the Pakistan […]
Govt urged for withdrawing sales tax on hybrid seeds
Pakistan Hi-Tech Hybrid Seed Association (PHHSA) on Tuesday urged the government to withdraw 17pc sales tax on hybrid seeds for boosting agriculture production in the country in order to ensure food safety and security by increasing per-acre output of all major and minor crops. This was stated by Chairman PHHSA, Shahzad Ali Malik, talking […]
CNG station association demands govt roll back sales tax hike on gas
The Compressed Natural Gas (CNG) Association demanded that the federal government must take back the hike in sales tax on gas. On Saturday, Chairman of the CNG Association Ghayas Paracha asked the government to withdraw the hike in sales tax rate which was recently announced in the federal budget for the fiscal year 2021-22 which […]
CJP seeks explanation over imposition of petroleum taxes
ISLAMABAD: Chief Justice of Pakistan (CJP) Saqib Nisar on Wednesday sought explanation over the imposition of taxes on petroleum products from concerned authorities. During the hearing, Nisar observed that taxes are imposed by the authorities when they should be providing relief to the public, especially when the prices are decreasing in the international market. […]