BTT is abolished with effect fom 1st January, 2011 and such Trading Businesses are liable for Nation Building Tax (NBT).
The rules were:
|All businesses engaged in buying and selling of articles and commodities other than exempt items are liable to turnover tax.|
|(a) Sale of Gems, sawn timber and precious and semi precious stones, furniture 5%|
|(b) Sale of Jewellery 5%|
|(c) Sale of other articles 1%|