- Punjab Finance Bill 2025 introduces major sales tax reforms
- Aims to expand tax base and digitize the provincial economy
- Shift from positive list to negative list model for taxing services
- Aligns Punjab’s tax regime with Sindh and Khyber Pakhtunkhwa
- Broadens scope of taxable services to increase revenue
- Reorganizes schedules for taxable and exempt services
- New First Schedule for tax-free services
- New Second Schedule for taxable services with three parts
- Key exemptions maintained for essential public services
- Exemptions include healthcare, education, public transportation, postal services, registration services, religion, arts, sports, public amusement, and affordable housing services
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.
Latest Posts in "Pakistan"
- Belgium Extends VAT Chain Transitional Period Indefinitely Due to Implementation Postponement
- Pakistan Extends E-Invoicing Implementation Timeline, New Deadlines Announced for Businesses
- Pakistan Announces New October 2025 Timetable for E-Invoicing
- Pakistan Announces Phased E-Invoice System Rollout for 2025-2026 to Boost Tax Compliance
- Pakistan Sets Deadlines for Sales Tax Registration and Electronic Invoicing Compliance
