HomeGlobal EconomyJuly Shaheed Smriti Foundation got VAT exemption

July Shaheed Smriti Foundation got VAT exemption


National Board of Revenue (NBR) has exempted all activities of July Shaheed Smriti Foundation from Value Added Tax (MUSAC) or VAT. At the same time, the institutions which will provide services or products to the foundation, will not have to pay VAT at any source.

This information was informed in a circular of NBR on Monday (December 3).

It is stated that since the July Shaheed Smriti Foundation is a non-profit and service-oriented organization, the NBR exempts all activities of the organization from VAT by virtue of sub-section (3) of section 126 of the Value Added Tax and Supplementary Duties Act, 2012 (Act No. 47 of 2012). Exempted. Apart from this, the services provided by the Foundation are exempted from VAT at source in all types of purchases.

Earlier, the third central executive council meeting of the foundation was held on Monday evening at the Rashtriya Guest House Yamuna under the chairmanship of Chief Advisor to the Interim Government Muhammad Yunus.



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