Peshawar, Pakistan – Khyber Pakhtunkhwa Revenue Authority (KPRA) has given wedding hall owners in the province until June 25th, 2024, to choose between two sales tax regimes for the upcoming financial year.
The new “fixed regime” introduced by the KPRA offers a simplified tax structure for wedding halls, categorized into three tiers based on seating capacity. This regime aims to streamline tax payments, enhance transparency, and reduce compliance costs.
Opting for the fixed regime by the deadline will provide wedding halls with lower tax rates compared to the previous 8% levy. However, failure to choose this option will result in a higher tax rate of 11% and increased scrutiny from tax authorities. Business Recorder
To make their selection, wedding hall owners or authorized representatives must submit a form available on the KPRA website. The deadline for submitting the form is June 25th, 2024.
By choosing the fixed regime, wedding halls can benefit from a more efficient and less burdensome tax system, ultimately contributing to the overall economic development of the province.
