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Pakistan - Chargeability of sales tax on life insurance services – notification
The Sindh Revenue Board (SRB) implemented on September 20 Notification No. SRB-3-4/17/2016. Through this, life insurance services, which were exempt from sales tax, will now be taxable from 1 July 2016, as follows:
| – | the rate of sales tax will be 8%; |
| – | input tax credit will be inadmissible. |
October 17, 2016