NBR publishes English version of Customs and VAT Act

The National Board of Revenue (NBR) has published the English version of the Customs and Value Added Tax (VAT) Act.

The tax collecting agency announced this information in a press release on Thursday (November 20). Earlier, the NBR had also published the English version of the Income Tax Act in mid-October.

The agency said that domestic and foreign investors, professional institutions, national and international researchers and analysts were facing various problems for a long time due to the lack of authentic English texts of the three main revenue laws - the Value Added Tax Act, the Customs Act and the Income Tax Act - and the rules made under them. In response to their demands, the English versions of these three laws have been published.

The NBR says that with the publication of the English version of the gazette, investors will be able to know the rules and regulations of the Value Added Tax and Supplementary Duty Act, the Customs Act and the Income Tax Act properly.

The NBR believes that this will increase taxpayers' confidence in revenue-related laws.

In addition, the publication of the English version will remove ambiguity and ambiguities in these laws and improve the investment-friendly environment in the country, the NBR believes.