Turnover Tax on E-Commerce Business
The Finance minister Ishaq Dar has given special permission to entities engaged in e-commerce business. Turnover tax is chargeable @ 1.25% on entities but this % has been reduced to 0.5 % for e-commerce business.
This initiative has been taken to promote e-commerce entities in the country. Apart from that tax on commission was also reduced to 5 % from 12 % on these entities. This act of FBR (Federal Board of Revenue) is a good act for the betterment of e-commerce business in Pakistan.