Pakistan: Tax proposals in Finance Bill 2023
Subject to approval by the National Assembly and may undergo changes
Subject to approval by the National Assembly and may undergo changes
Tax proposals in the Finance Bill 2023 include the taxation on bonus shares, 0.6% withholding tax on withdrawals, sales tax on information technology (IT) services and continuation of supra-tax levies, as well as an increase in withholding tax rates.
The bill is subject to approval by the National Assembly and may undergo changes before it is enacted into law.
Read a June 2023 report [PDF 597 KB] (37 pages) prepared by the KPMG member firm in Pakistan that provides a summary of significant amendments introduced by the bill.
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