- Sindh government announced the 2024-25 provincial budget.
- Sales tax rate increased from 13% to 15%.
- Aim: Align with other Service Tax Administrations in Pakistan and harmonize tax rates.
- Existing exemptions and reduced rates will remain unaffected.
- Proposal to promote digital payments by reducing SST rate for restaurant services to 8% for digital transactions.
- Support for telecom sector: Allowing telecom companies to claim an input tax credit of up to 18%.
- Changes aim to boost digitalization and provide relief to high-tax sectors.
- Expected to generate additional revenue for development projects and public services.
- Reflects commitment to modernizing the tax system and promoting economic growth.
- Changes pending approval by the provincial Assembly.
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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