Websites get a Tax Reduction by FBR
The Federal Board of Revenues has decided to reduce the tax generated on online profits garnered by websites. In a recent decision FBR has reduced the sales tax from 17 % to 6%, marking a major shift in the tax policies of the monetary regulatory authority.
Online sales made through websites hosted with a registered domain name shall also be treated as sales made through point of sales on a notified outlet and accordingly covered under the purview of this rule, provided the sale data transmitted to the Board’s Computerized System through a prescribed integration software with the same particulars as stipulated and invoice is provided to the customer with particulars.
News Source: thenews
