Reduced Tax Deduction Rate for Leather or Leather Product Exporters.

SRO No. 50-AIN/Income Tax-27/2024
National Board of Revenue, under Section 76(1) of Income-tax Act, 2023 (Act No. 12 of 2023), has stipulated, only in case of leather or leather products export by any exporter, the tax deduction rate under section 123 of the Act has been reduced to 0.5% of the total export earnings. This amendment, effective immediately, will remain in effect until June 30, 2025.