The Economic Growth and Recovery Plan for 2017 to 2020 has been published on 7th March 2017 by the Ministry of Budget and Economic Planning. It made a proposal on VAT rate in case of luxury goods increases to 15% from 5% and it will effect from 2018. It proposes to announce a system to permit for the immediate issuance of VAT and withholding tax certificates upon payment of invoices. It proposes for declaring tax on luxury items as well as other indirect taxes, revising all revenue-related laws and updating obsolete rates or tariffs, and increasing the verification tax compliance level prior to licensing a vehicle. This proposes for providing incentive investment via tax breaks. For example, accelerated depreciation on equipment
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DTA between Pakistan and Switzerland signed
Bahrain ratifies DTA with Bangladesh
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