Pakistani National Assembly Considers 2024 Finance Bill with Major Tax Reforms and Adjustments

• The Pakistani National Assembly accepted the 2024 finance bill for consideration on June 12.
• The bill proposes to withdraw various sales tax exemptions and reduced rates.
• It includes an increase in the reduced sales tax rate for specified items under the point of sale (POS) system from 15 percent to 18 percent.
• The bill aims to convert the zero-rating of petroleum products into an exemption.

Source: news.bloombergtax.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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