Pakistan Lower House Considers Supplementary Finance Bill 2023

The Pakistani lower house of Parliament (National Assembly) Feb. 15 accepted for consideration Supplementary Finance Bill, 2023. The bill includes measures to: 1) increase the sales tax rate to 18 percent from 17 percent on general items, locally produced coal, and potassium chlorate; 2) increase the sales tax rate to 25 percent from 17 percent on mobile phones over US$500; 3) establish advance tax rates of 10 percent on purchases of company shares as a capital asset, and on functions and gatherings; 4) increase the federal excise duty (FED) rate on aerated water to 20 percent from 13 percent; 5) ...