This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).
The content will be updated regularly. However, due to the fast-moving pace of change, it may not always reflect the most current developments in a given jurisdiction. Please refer to the date of accuracy and refer to the relevant links, under additional information, for original source information.
Authorities in Pakistan have introduced measures to mitigate the impact of the COVID-19 pandemic.
23 August 2020:
FBR exempted taxes on import of oxygen gas, oxygen cylinders and cryogenic tanks. This exemption shall be available for a period of 3 months starting from 23 June 2020 and this concession shall apply to LCs opened for GDs filed on or after 23 June 2020.
30 June 2020:
FBR in its Finance Act 2020 added The Prime Minister’s COVID-19 Pandemic Relief Fund 2020 to its exemptions list. Any donation, subject to conditions, made to the fund shall be exempted from tax.
30 June 2020: Special Incentive package for construction industry announced by GoP:
30 March 2020: GoP allowed to reduce different taxes and duties on import and supply of different food items for alleviating the adverse impact of COVID -19 on different sections of the society:
Business Income Tax
Effective May 1, 2020, the construction sector is entitled to seek exemption from advance tax on import of plant and machinery, besides claiming a tax credit on income from new projects according to the new tax regime. However, the credit is only available to non-corporate sector.