- Sindh Revenue Board adopts UN’s Central Product Classification Version 2.1 for services tax
- New classification ensures consistency, transparency, and efficiency in tax administration
- System aims to streamline data collection and improve statistical analysis
- CPC organizes goods and services into a five-level hierarchical structure
- Classification principles include mutual exclusivity and exhaustiveness
- Aligns with other statistical systems like the International Standard Industrial Classification
- Rules of interpretation prioritize specific descriptions and essential character of services
- Structured approach aids in classifying composite or evolving 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.
