Taxation

The definition of small and medium enterprise (SME) has been broadened to include businesses that provide or render IT services and IT-enabled services. SMEs that are exclusiv

The threshold for salary payment through cash in Pakistan has been increased to Rs 32,000 per month. This is in line with the increase in the minimum wage. Previously, salary

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The Finance Act 2023 has amended section 147 of the Income Tax Ordinance 2001 to require builders and developers to pay advance tax on a project-by-project basis. The advance

The Federal Excise Duty (FED) Act, 2005 specifies various situations for the levy of FED in relation to specified goods and services. The Finance Bill, 2023 proposed to insert

The definition of IT Services and IT Enabled Services has been moved from Table-2 to Table-1 of the Islamabad Capital Territory (Tax on Services) Ordinance 2001. This is a pos

The Finance Bill 2023 proposed to exempt freelance exporters exclusively dealing in export of IT and IT enabled services from sales tax. However, this amendment was not made p

The government has clarified that input tax disallowance will be applicable to all persons in the supply chain of pharmaceutical goods, including manufacturers and importers,

The government has extended the sales tax exemption on wheat bran with retrospective effect from July 1, 2018. This means that taxpayers who incurred sales tax liability on wh