KARACHI: Finance Bill 2018 seeks to impose a restriction that sales tax and federal excise audit of a registered person can be conducted only once in three years.
The Bill also proposes exemption from federal excise duty on commission paid by State Bank of Pakistan (SBP) and its subsidiaries to banking companies for handling banking services of federal or provincial governments.
Input tax adjustment is being allowed on packing materials to five export oriented sectors covered under SRO 1125(I)/2011.