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- FED is withdrawn where GST is now liable.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
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 this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.