Finance Bill 2018: Banks to collect 5pc tax on digital services

ISLAMABAD: Banks are required to collect five percent income tax on gross amount of fee remitting outside for offshore digital services.
Finance Bill 2018 defined fee for offshore digital services as any consideration for providing or rendering services by a nonresident person for online advertising including digital advertising space, designing, creating, hosting or maintenance of websites, digital or cyber space for websites, advertising, e-mails, online computing, blogs, online content and online data, providing any facility or service for uploading, storing or distribution of digital content including digital text, digital audio or digital video, online collection or processing of data related to users in Pakistan, any facility for online sale of goods or services or any other online facility.

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