SRB Tax Rates for Professionals & Consultants

Good news for professionals and consultants working in Sindh! The Sindh Revenue Board (SRB) has announced that the existing tax rate of 13% will remain unchanged for the 2024 tax year. This applies to services provided by various professionals, including:

  • Lawyers and consultants
  • Accountants and auditors
  • Management consultants
  • Technical, scientific, and engineering consultants
  • IT and software consultants
  • Tax, HR, and personnel development consultants
  • Laboratories (excluding pathological, radiological, and diagnostic services)

This consistent tax rate provides stability and predictability for professionals, allowing them to accurately plan their finances and ensure compliance. Importantly, this decision upholds the SRB’s commitment to transparency and consistency in tax regulations.

What about banking services?

The SRB has also outlined the sales tax rates for various banking services in 2024. The tax rate now stands at 13% for a wide range of services, including:

  • Guarantees, including bank guarantees
  • Brokerage services
  • Letters of credit
  • Issuing cheque books, pay orders, and demand drafts
  • Bills of exchange
  • Money transfers (telegraphic, mail, electronic)
  • Commissions (including bill discounting)
  • Safe deposit lockers and vaults
  • Other unspecified services
  • Credit and debit card issuance, processing, and operation
  • Foreign exchange commissions and brokerage
  • ATM operations, maintenance, and management

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