pakistan
Govt proposes sweeping tax changes in Finance Bill effective from July 1
Key takeaways
- Under the proposed Finance Bill, Pakistan International Airlines (PIA) will receive a 15-year sales tax exemption on aircraft purchases.
- The government has also proposed a reduced 10 percent sales tax on stationery items used by children, including pencils, pens, and sharpeners.
- From July 1, a one-time fixed tax of Rs10,000 will be imposed on vehicles up to 1000cc in the federal area.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize ISLAMABAD: The government of Pakistan has drafted amendments to the Finance Act for the next fiscal year in line with Parliament’s instructions, introducing significant tax, compliance, and digital enforcement changes effective from July 1, ARY News reported.
Under the proposed Finance Bill, Pakistan International Airlines (PIA) will receive a 15-year sales tax exemption on aircraft purchases.
The government has also proposed a reduced 10 percent sales tax on stationery items used by children, including pencils, pens, and sharpeners.
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