Regulatory Alerts2023-05-08
Added
FEPD Circular Letter No. 04: Clarification of Digital Marketing and Advertisement Broadcasting under Section 56 of the Income Tax Ordinance 1984
The document establishes a 15% withholding tax rate for Digital Marketing services and a 20% rate for Advertisement Broadcasting services for remittances made to non-resident entities, effective until June 30, 2023. Digital Marketing is defined as advertising or content promotion via the internet, social media, or websites, excluding television and radio. Advertisement Broadcasting is defined as advertising transmitted via television or radio channels, excluding internet-based promotions. Any previous circulars from the National Board of Revenue offering different interpretations are declared invalid upon the issuance of this letter.
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