Daily Archives: October 23, 2017

FBR amends sales tax on import of finished textile, leather goods

ISLAMABAD: Federal Board of Revenue (FBR) has amended SRO 1125(I)/2011 and notified six percent sales tax and two percent value addition tax on import of finished goods of textile and leather sector ready to use by general public.

Out of pocket expenses not excluded from taxable services: SRB

KARACHI: Sind Revenue Board (SRB) has said that out of pocket expenses charged or collected by a service provider in relation to provision of service chargeable to tax on the basis of gross amount of consideration will not be excluded from the value of taxable services.

Restrictions imposed on import of 581 items through SRO 1067

ISLAMABAD: The government has imposed restriction on import of 581 food items in order to reduce import bill during the current fiscal year. An Statutory Regulatory Order (SRO) 1067(I)/2017 has been issued to implement the restriction.