No more VAT on purchases at supershops: NBR
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NN Online:
In a relief for consumers, purchases at superstores will no longer be subject to Value Added Tax (VAT).
The retail price of the products will be the final price to pay, read a press release of National Board of Revenue (NBR).
The NBR’s VAT department issued a notification in this regard on Thursday. The NBR authorities and the supershops owners took the decision following several meetings.
Earlier, VAT rates varied ranging from 1.5 per cent to 5 per cent, with a 7.5 per cent rate applied during last year’s budget.
Chain super shop owners had been objecting to this for a long time.