Websites exclusively featuring advertisements from sellers will not be subject to taxation.
The International Monetary Fund (IMF) suggests that online platforms participating in transactions within Pakistan should be integrated into the revenue system by implementing general sales tax and value-added tax.
As stated in a Business Recorder report, the International Monetary Fund (IMF) suggests this recommendation due to digital platforms having significant influence over the consumer-transaction aspects.
Digital goods and services, along with sales made by non-resident vendors to local customers, would be subject to taxation.
This encompasses not only businesses that sell their products to individuals and other companies via online platforms, but also intermediaries who play a role or have a stake in these transactions, setting the conditions for them.
Additionally, it involves platforms that facilitate the delivery of goods from third-party vendors to customers, maintaining a vested interest in the overall process.
The Business Recorder stated that the digital platform will involve a person who, either directly or through partnerships with third parties, is responsible for gathering, receiving, or processing payment for transactions. This individual or entity then proceeds to forward the payment to the associated third-party vendor.
Saudi Arabia Declares a $40 Million Contribution to UNRWA
Saudi Arabia has declared a $40 million donation to the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA), an organization that has been subjected to significant budget reductions and demands for its discontinuation, primarily driven by Israel.
The King Salman Humanitarian Aid and Relief Centre (KSrelief) announced that the allocated funds will be utilized to bolster the United Nations Relief and Works Agency’s (UNRWA) humanitarian assistance in the Gaza Strip. This region has experienced continuous Israeli bombings for over five months.
“Over 250,000 individuals will receive food support, and 20,000 families will be given tents, as stated by KSrelief,” the organization announced. KSrelief’s chief, Abdullah al-Rabeeah, emphasized, “It is imperative to address the urgent requirements of the people in Gaza.”
