ISLAMABAD: The Federal Board of Revenue (FBR) has withdrawn 50 percent income tax exemption from Gilgit Baltistan.
Earlier, the federal government announced 50 percent exemptions on income tax for the companies, firms, service sector and individuals belonging to Gilgit Baltistan.
But now the FBR, on the directions of federal government, has announced to withdraw the exemption. Now all the companies, firms and service sector and individuals will pay 100 percent income tax. Sources added that earlier they had to pay 3.5 percent but now they will pay 7 percent tax on their income tax.
