Pakistan: Tax measures enacted in Finance Act, 2021

Legislation includes measures concerning or revisions affecting the income tax, sales tax, and excise tax laws.

Measures concerning or revisions affecting the income tax, sales tax, and excise tax laws

The Finance Act, 2021 was enacted 30 June 2021 after passage by Parliament and assent of the president.

The legislation includes measures concerning or revisions affecting the income tax, sales tax, and excise tax laws.

For instance, the legislation includes, for income tax purposes, enhanced definitions of:

  • Industrial undertaking by including telecommunication services
  • Information technology (IT) services and IT-enabled services to include cloud computing and digital storage services

Read a July 2021 report [PDF 1.4 MB] (91 pages) prepared by the KPMG member firm in Pakistan

 

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