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The Financial Express

5.0pc VAT on app-based ride-sharing services

| Updated: June 10, 2018 10:51:59


Lankabangla and Fianancial Express Lankabangla and Fianancial Express
5.0pc VAT on app-based ride-sharing services

The government has slapped a five per cent VAT on app-based ride-sharing services of the country.

The National Board of Revenue (NBR) has issued an SRO in this connection, reports UNB.

In the SRO, the revenue collecting authority said the ride-sharing service enjoys VAT exemption as it is not included in the second schedule of the VAT Law 1991.

It mentioned that as per the second schedule of the VAT Law 1991 the earning of the ride is VAT exempted, but the share that the app authorities earn from the riders is VAT payable.

"The app-running authorities have to pay five per cent on their earnings," the SRO reads.

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