Pakistan budget introduces GST and excise changes

Jun 10, 2014 | Richard Asquith

Pakistan is introducing a number of minor changes to the Goods & Services Tax (GST) and Excise Duty regimes from July 2014. These were announced in the recent 2014/15 budget. Changes include:

A simplified GST regime is to be introduced for the retail sector
Federal Excise Duty (FED) on goods manufactured or imported into Pakistan will be cut from 19.5% to 18.5%
FED is withdrawn where GST is now liable.
A new Luxury Tax is to be introduced at 5% on certain goods, including expensive watches

VP Global Indirect Tax

Richard Asquith

VP Global Indirect Tax Richard Asquith

Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.