AGL 24.40 Increased By ▲ 1.46 (6.36%)
AIRLINK 109.29 Decreased By ▼ -2.00 (-1.8%)
BOP 5.29 Increased By ▲ 0.04 (0.76%)
CNERGY 3.67 Decreased By ▼ -0.05 (-1.34%)
DCL 8.00 Increased By ▲ 0.01 (0.13%)
DFML 44.30 Increased By ▲ 4.03 (10.01%)
DGKC 88.80 Increased By ▲ 0.80 (0.91%)
FCCL 21.99 No Change ▼ 0.00 (0%)
FFBL 42.28 Increased By ▲ 0.08 (0.19%)
FFL 8.90 Increased By ▲ 0.35 (4.09%)
HUBC 151.70 Decreased By ▼ -1.59 (-1.04%)
HUMNL 10.35 Decreased By ▼ -0.10 (-0.96%)
KEL 4.45 Decreased By ▼ -0.05 (-1.11%)
KOSM 3.95 Increased By ▲ 0.10 (2.6%)
MLCF 36.60 Decreased By ▼ -0.20 (-0.54%)
NBP 49.16 Increased By ▲ 1.17 (2.44%)
OGDC 131.70 Decreased By ▼ -0.10 (-0.08%)
PAEL 26.31 Increased By ▲ 0.16 (0.61%)
PIBTL 6.07 Increased By ▲ 0.04 (0.66%)
PPL 115.45 Decreased By ▼ -0.05 (-0.04%)
PRL 22.67 Increased By ▲ 0.07 (0.31%)
PTC 12.50 Decreased By ▼ -0.08 (-0.64%)
SEARL 56.19 Increased By ▲ 0.50 (0.9%)
TELE 7.40 Increased By ▲ 0.20 (2.78%)
TOMCL 37.69 Increased By ▲ 0.69 (1.86%)
TPLP 8.34 Increased By ▲ 0.49 (6.24%)
TREET 15.33 Increased By ▲ 0.03 (0.2%)
TRG 59.96 Increased By ▲ 5.41 (9.92%)
UNITY 32.34 Increased By ▲ 0.48 (1.51%)
WTL 1.18 Increased By ▲ 0.01 (0.85%)
BR100 8,406 Increased By 61.8 (0.74%)
BR30 26,453 Increased By 106 (0.4%)
KSE100 79,397 Increased By 409.9 (0.52%)
KSE30 25,518 Increased By 153.1 (0.6%)

ISLAMABAD: Sindh Revenue Board (SRB) has clarified that the Sindh Finance Bill, 2024 does not immediately impose a 15 percent Sindh Sales Tax (SST) on health and education services.

The SRB further clarified that specific services within the health and education sectors are proposed to be subjected to taxation at the reduced rate of 3 percent.

According to a clarification issued by the SRB on Saturday, reports have appeared in certain sections of the press that the Sindh Government has imposed, through the Sindh Finance Bill, 2024, Sindh Sales Tax (SST) at the standard rate of 15% on the services of hospitals, medical practitioners (doctors) and educational institutions.

SRB extends last date for e-filing of tax returns

It is clarified for general information that the Finance Bill specifies the standard rate (15%) of SST as a scheme of specifying the taxable services. However, the effective rates (reduced rates, if any, as per the Government decision) are published in the Gazette notifications separately.

Sindh Finance Bill, 2024 does not immediately impose a 15% SST on health and education services. The Bill outlines the standard rate framework; however, specific services within the health and education sectors, as approved by the Sindh Cabinet, are proposed to be subjected to taxation at reduced rate of 3%, SRB maintained.

The reduced rates applicable to taxable services, including health and education services, will be formally notified as soon as the Bill becomes an Act of the Provincial Assembly of Sindh.

The Government of Sindh remains committed to ensuring accessible and affordable health and education services for all residents of the province. The introduction of any tax measures is aimed at supporting sustainable funding for these critical sectors while considering the impact on stakeholders, the SRB added.

Copyright Business Recorder, 2024

Comments

Comments are closed.