The Minister for Finance, Government of Sindh, presented the 2016-17 Budget today and we are pleased to provide our commentary on the sales tax and certain other changes proposed therein. Overall, the tax measures introduced are aimed at expanding the tax base by offering reduction in sales tax rate and adding 6 new taxable services and introducing the concept of negative list of services.
The amendments proposed in the Bill once approved by the provincial assembly of Sindh shall take effect from July 01, 2016 unless otherwise notified.
It should be noted that the commentary is our interpretation of the changes proposed in the Finance Bill, 2016. As the proposals are yet to be enacted, and the legislation to enact the proposals is yet to be published, our comments in this commentary should not be considered definitive and should, therefore, be used only as a guide.
We hope you will find this commentary useful.