LAHORE: In compliance with the federal government directives, the Punjab Revenue Authority (PRA) has exempted foreign currency dealers and money changers services from sales tax.
As per details, the provincial tax authority has decided to grant exemption to currency dealers from provincial sales tax for two years to encourage foreign exchange inflows into the country. The currency dealers and government were piling pressure on PRA that the government was striving for encouraging remittances inflows and on the other hand sales tax on currency dealers was causing pressure on value of rupee and remittances inflow, therefore, it should be scrapped for some period.
