Government Suggests Sales Tax on E-Commerce
The federal government has suggested in Islamabad to levy a sales tax on the selling of items via an online marketplace.
The Federal Board of Revenue (FBR) has recommended, according the Finance Bill 2021-22 (FY22), that the operator of an online marketplace shall be liable for sales tax regardless of whether the marketplace is controlled by the operator.
Read More: What is 5 Marla House Construction Cost in 2023?
An online marketplace consists of an electronic interface such as a marketplace, e-commerce platform, portal, or similar means that facilitate the sale of goods, including third-party sales, by controlling the terms and conditions of sale, authorising a charge to customers for payment for supply, and ordering or delivering goods.
Details indicate that the FBR’s proposal includes additional steps to make e-commerce marketplaces accountable for VAT/GST on sales made by online merchants, in addition to data sharing and improved cooperation between tax authorities and online marketplaces.
A research by the Organization for Economic Co-operation and Development (OECD) indicates that two-thirds of all cross-border e-commerce sales occur on online marketplaces, highlighting the significance of these policies.
Tracking these online marketplaces to guarantee that VAT/GST is paid, by making them accountable and through data sharing, will allow tax authorities to concentrate their compliance efforts on the relatively limited number of marketplaces as opposed to the millions of small traders operating on them.
For more information, please get in touch with Al Sadat Marketing.
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
