PRA exempts money changers from sales tax

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In pursuance of directives of the federal government, the Punjab Revenue Authority (PRA) has exempted foreign currency dealers and money changers services from sales tax.

Sources said provincial tax authority has decided to grant exemption to currency dealers from provincial sales tax for two years to encourage foreign exchange inflows into the country.

Sources said currency dealers and the government were piling pressure on PRA that the government was striving for encouraging remittances inflows and on the other hand sales tax on currency dealers was causing pressure on value of rupee and remittances inflow, therefore, it should be scrapped for some period.

1 COMMENT

  1. Mr.Ishaq Dar.Federal Finance Minister is requested to exempt general sales tax on the savings of widows, aged and poor people who have no any ocher source of income Their investments in the national economy are playing a vital role for the growth of income. The rate of profits must also be increased.

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