Mobile Phone Makers not to pay turnover tax
Mobile Phone Makers not to pay turnover tax via Clause 11A of Part IV of Second Schedule: The Amendment Ordinance has exempted the payment of Minimum tax on Turnover by Mobile Phone Manufacturer by including them in clause 11A of Part IV of Second Schedule of the Ordinance.
This amendment was necessitated to boost local manufacturing of mobile phone to save precious foreign exchange, which otherwise is consumed on imports of mobile phones.
Certain amendments through third amendment ordinance and this Ordinance shall be called the Tax Laws (Third Amendment) Ordinance, 2021.
For more information on FBR’s new regulations / circulars/ SROs/ amendments in taxation laws in Pakistan please visit https://www.fbr.gov.pk/