KP to Offer Sales Tax Relief to 31 Service Industries

Peshawar: According to news reports, the Khyber-Pakhtunkhwa Revenue Authority (KPRA) has suggested a lowering of sales tax on 31 service industries, including the real estate industry, in fiscal year 2021-22 (FY 22). The tax reduction proposals will be included in the Finance Act 2021, which will soon be introduced to the provincial parliament.

The provincial revenue agency issued a press release stating that the decision was made in response to taxpayer requests. As part of the tax reduction, 10 of the affected industries would be subject to a sales tax rate of only 1% during FY 22. The following is a list of the industries that will profit from the relief:

Publications advertising
Property agents
Agriculture cold storage and warehousing Manufacturing facilities
Car cleaning services
Offering cinematic services
Services for quality assurance and inspection
Auctioneers
Services for installation and commissioning
Underwriter assistance

In addition, the hotel tax in Naran and Kaghan has been reduced from 8% to 5% to promote tourism in the province. In addition, the sales tax on club services as well as local independent and chain hotels has been reduced from 15% to 8%. The mining and minerals sales tax has been reduced from 15% to 2%.

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