What is the name of the tax Pakistan applies to goods and services at the point of sale, similar to VAT?
ASales tax
BIncome tax
CProperty tax
DCustoms duty
Explanation
– It is collected by the Federal Board of Revenue on goods.
– Provinces separately collect sales tax on services.
– It is one of Pakistan’s largest sources of tax revenue.
Exam Relevance
- Topic: Economy
- Subtopic: Taxation
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