Sales Tax in Pakistan increased to 18%
The Sales Tax in Pakistan increased to 18%!
The goods and services tax (GST) is a value-added tax (VAT) levied on most goods and services sold for domestic consumption.
Under the new increment, apart from services, everything from food and drink to make-up, and household necessities like soap, shampoo, etc. will become more expensive.
The government on Tuesday introduced fresh taxation measures worth Rs115 billion through a notification issued by the Federal Board of Revenue (FBR).
The FBR issued the Statutory Regulatory Order (SRO) for hiking the General Sales Tax GST rate from the standard 17 to 18%.
The new GST goes into effect today, February 15, 2023.
The government also approved the GST on hundreds of high-end luxury items at the rate of 25% introduced through the Tax Amendment Bill 2023, laid down in the Parliament on Wednesday.