November 28, 2023

PM Shehbaz orders the suspension of fixed sales tax collection from business owners

PM Shehbaz expresses satisfaction at the upward trajectory in the Pakistan-US relationship

On Saturday, Prime Minister Shahbaz Sharif gave the go-ahead to stop collecting fixed sales tax from retailers through their electricity bills.The economy of the nation, businessmen’s issues, and potential remedies were reviewed at a meeting that the prime minister presided over in Lahore.

Of particular importance were the fixed sales tax rates and the discussion of how to collect them through power bills.PM Shehbaz addressed the gathering and directed the Federal Board of Revenue (FBR) to immediately stop collecting fixed sales tax from small traders and retailers via electricity bills and to create a new plan in cooperation with traders.

When deciding whether or not to collect taxes through electricity bills, the PM stated members of the trading community should be considered.The change happened after the government voted on August 4 to end a set tax structure on electricity bills for a year. After three days of negotiations between the government and the business community, which had been opposing the fee since July 1, a breakthrough was made.

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