LAHORE: The Punjab Revenue Authority has announced extension in the validity period of “Reduced Rate Schemes” for further one year till the end of financial year 2016-2017.
According to the a PRA official, the taxable services covered in these schemes are those provided by launderers and dry cleaners, cars and automobile dealers, auto-workshops, health care, gym and physical fitness centres, non-air conditioned hair cutting, dying and shaving salons, property dealers at 5 percent.
The contractors providing construction services less than Rs50 million aggregate in a year at 5 percent, franchise services at 10 percent, tour operators and travel agents at 5 percent, accountants, auditors, tax consultants and others at 5 percent, toll manufacturing at 2 percent, and cable TV operators at 2 percent. The existing terms and conditions already notified shall continue.
