Tag: GST

FBR to replace the GST With Value Added Tax

The Federal Board of Revenue (FBR) has decided to replace the existing General Sales Tax (GST) with Value Added Tax (VAT) across the board for all sectors under World Bank’s funded loan conditions. According to FBR Chairman Shabbar Zaidi, FBR will gradually move towards full implementation of VAT in order to ensure all sectors contribute to the country’s taxation system.