Sales tax measures
- An increase in the sales tax threshold for small business (cottage industries) from annual turnover of PRK 3 million to PKR 10 million
- Changes to bring the sale of goods through online marketplaces within the scope of sales tax by deeming an online marketplace as a supplier in respect of third-party sales through their platform;
- The removal of zero-rating for petroleum crude oil, parts/components of zero-rated plant and machinery, the import of plant and machinery by the petroleum and gas sector, and the supply, repair, and maintenance of ships;
- The removal of several items qualifying for exemption (Sixth Schedule) or reduced rates (Eighth Schedule), except for those relating to basic food items, health, and education; and
- The introduction of a sale tax exemption for the import of plant, machinery, and raw materials in connection with the incentives for Special Technology Zones.
Source Orbitax
