- FBR is considering a 10% sales tax on imported solar panels for 2025-26
- Initial proposal of 18% sales tax was rejected due to backlash
- The 18% tax aimed to support local manufacturers but faced opposition due to rising energy prices
- National Assembly’s committee rejected the 18% tax as unfeasible
- FBR now proposes a moderate 10% tax, potentially increasing to 18%
- FBR chairman noted a potential revenue loss of Rs40 billion if tax is withdrawn
- Current exemptions benefit importers over domestic manufacturers
- Committee members stressed the importance of solar panels for renewable energy
- Finance Minister assured concerns are being considered
- Over-invoicing in solar panel imports linked to money laundering was detected
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.
