FBR New Increased Sale Tax Rate in Pakistan 2023. BR increases the sales tax rate in Pakistan to 2023 The standard rate of general sales tax has been increased from 17% to 18%. Further, it will come into force immediately from 15 February 2023.
For this purpose, the Federal Board of Revenue (FBR) has issued Statutory Regulatory Order (SRO) No. SRO 179(1)/2023 dated: 14 February 2023.
FBR New Increased Sale Tax Rate in Pakistan 2023
In exercise of the powers conferred by clause (b) of sub-section (2) of section 3 of the Sales Tax Act, 1990, the Federal Government is pleased to increase the rate of sales tax in respect of taxable items covered by. Under sub-section (1) of section 3 of the Sales Tax Act, 1990, seventeen per cent to eighteen per cent.
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Following Cabinet approval of the Tax Laws Amendment Bill, 2023, the FBR issued a Statutory Regulatory Order (SRO) to increase the General Sales Tax GST rate from the standard 17 per cent to 18 per cent.
Moreover, SRO No. 178(1)/2023 for an increase in Federal Excise Duty (FED) on cigarettes was also issued yesterday.
Additionally, according to media reports, the government also approved GST at the rate of 25 per cent on hundreds of high-end luxury items. Moreover, the government will introduce it through the Tax Amendment Bill 2023. The government will present the bill in Parliament on Wednesday (today).