Types of VAT Rates

 

·        Standard VAT rate 15%

·        Trade VAT rate 5%

·        Truncated VAT Rate - 3rd Schedule - 5%, 7.5%, 10%

•                     Trading stage VAT for Medicine – 2.4%

•                     Trading stage VAT for Petroleum – 2%

•                     Land Development – 3%

•                     Apartment sale or transfer by Real Estate Developer

– 2% ( upto 1600 sft), 4.5% (from 1601 sft and above)

·         Re-registration of any size– 2%

·        Packaged VAT system has been abolished.

·        Fixed Amount of VAT for newsprint, bricks, M.S. Product and SIM cards.

·        Turnover tax rate – 4%