Lower Tax for Steel Distributors

Lower Tax for Steel Distributors

Lower Tax for Steel Distributors vide Clause 24C & 24D of Part II of Second Schedule: The Amendment Ordinance has included Distributor, Dealers, Sub-Dealers, Wholesaler and Retailer of Steel in the exclusive list of sectors, which are allowed reduced withholding and minimum tax on turnover @ 0.25% under section 153 & 113 respectively, provided they are active taxpayers in terms of relevant provisions of both the Income Tax Ordinance, 2001 and Sales Tax Act, 1990.

Certain amendments through third amendment ordinance and this Ordinance shall be called the Tax Laws (Third Amendment) Ordinance, 2021.

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