FBR Defines Taxable Activity in Pakistan for Sales Tax Levy in 2024

• FBR has defined taxable activity in Pakistan for sales tax levy during tax year 2024
• The definition includes business, trade, or manufacture activities
• It also includes activities involving the supply of goods or rendering/providing services
• One-off adventures or concerns in the nature of a trade are also considered taxable
• Activities during the commencement or termination of economic activity are taxable
• Activities of an employee and private recreational pursuits or hobbies are exempt from being classified as taxable
• Activities by non-individuals falling under individual categories are also exempt
• The aim is to create a clear and consistent framework for the application of sales tax in Pakistan.

Source: pkrevenue.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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