Karachi December 30 2021: Federal government has proposed to increase in the rate of sales tax on gold and silver to seventeen percent through the Finance (Supplementary) Act, 2021 presented in the national assembly today.
This result in increase of PKR 17,204 per tola on 22K Gold.
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Minister for Finance Shaukat Tarin today introduced the government’s supplementary finance bill for final approval in the National Assembly after it was approved by the Federal cabinet.
Currently only one percent sales tax is imposed on gold and silver. Gold closes at PKR 107,524 and PKR 102,638 per tola today’s in Karachi market for 22 K and 21K.