FBR clamp 0.5% tax on E-commerce companies

The Federal Board of Revenue has imposed 0.5 percent tax on business done through online trading.

According to the amendments posted on the website of Federal Board of Revenue for the year 2017-18, a new tax on concessionary basis has been imposed. A new concept has been derived called “online market place”, where a tax has been imposed at the rate of 0.5 percent.

This tax would be imposed on the income by the companies doing e-commerce business through online transactions; it has been imposed from July 1, 2017.