How much VAT has been reduced on some products and services
The National Board of Revenue (NBR) has announced reductions in Value Added Tax (VAT) and Supplementary Duty levied on several goods and services to reduce the cost of living of the people
The National Board of Revenue (NBR) has announced reductions in Value Added Tax (VAT) and Supplementary Duty levied on several goods and services to reduce the cost of living of the people EN
How much VAT has been reduced on some products and services
Online desk
Published: 08:49, Thursday, January 23, 2025
How much VAT has been reduced on some products and service
The National Board of Revenue (NBR) has announced reductions in value added tax (VAT) and supplementary duty levied on several goods and services to reduce the cost of living of the people.
The decision to reduce VAT and duty was implemented through four notifications on Wednesday.
Pharmaceuticals: The VAT rate at the business level has remained unchanged at 2.4 percent to reduce consumer costs in the pharmaceutical industry. Withdrawal of additional VAT, the price of medicines will be within the affordability of the
How much VAT has been reduced on some products and services
Online desk
Published: 08:49, Thursday, January 23, 2025
How much VAT has been reduced on some products and services
The National Board of Revenue (NBR) has announced reductions in value added tax (VAT) and supplementary duty levied on several goods and services to reduce the cost of living of the people.
The decision to reduce VAT and duty was implemented through four notifications on Wednesday.
Pharmaceuticals: The VAT rate at the business level has remained unchanged at 2.4 percent to reduce consumer costs in the pharmaceutical industry. Withdrawal of excess VAT will bring drug prices within the affordability of the common man.
Mobile phone and ISP services: Increased supplementary duty on services provided through use of mobile SIM/RIM cards and newly imposed supplementary duty on Internet Service Providers (ISPs) have been completely withdrawn. This will reduce spending on technology and digital activities by the younger generation.
Restaurant Meals: Additional VAT has been fully waived in all restaurants except three-star, four-star and five-star hotels. As a result, restaurant food prices will remain the same
Motor vehicle garages and workshops: Increased VAT in this sector has been fully withdrawn to reduce the cost of repair and maintenance of motor vehicles.
Apparel: Additional VAT on marketing of apparel other than own brand has been completely withdrawn.
The rate of VAT on non-AC hotels, confectionery stores, and apparel marketing has been reduced from 15 percent to 10 percent.
E-Books: VAT exempted at local and import level on e-book services for modern and technology-based education of students.
Metrorail: VAT exemption has been provided on Metrorail services to ease congestion.
Hajj Tickets: Excise duty levied on Hajj tickets has been completely withdrawn
