As per apnaqanoon,realty and manufacturing sectors have filed petitions against Section 7E that the government introduced in June last year to impose taxes on people who derived income equal to 5% of the fair market value of capital assets situated in Pakistan, who will be charged tax at the rate of 20%.
As per apnaqanoon, Fiscal year 2019-20, the ratio of direct taxes in the total taxes is 32 percent out of which 70 percent are collected in a withholding basis (which defies the Direct Tax claim). According to law/qanoon,the current tax structure in Pakistan is regressive in nature and is in contrast to the fairness principle…
As per apnaqanoon, each registered person must file a return by the 15th of each month regarding the sales made in the last month. All registered persons are required to file returns electronically and in such cases the payment is to be made by the 15th and return can be submitted on FBR’s e-portal .
As per apnaqanoon,It is the sales tax charged and levied on the sale or supply of goods or services on which sales tax is aplicable.
As per apnaqanoon, The Pakistani sales tax registration threshold is nil. Businesses with a turnover below PKR 1million may apply for a simplified tax regime.
As per apnaqanoon ,A retailer operating in an air-conditioned shopping mall, plaza or centre, excluding kiosks; According to law/qanoon retailer whose cumulative electricity bill during the immediately preceding twelve consecutive months exceeds Rupees six hundred thousand;
As per apnaqanoon,The Federal Board of Revenue (FBR) has granted sales tax exemption on supplies, withholding tax and income tax exemption on individuals, companies and association of persons of while Federally Administered Tribal Areas (FATA) and Provincially Administered Tribal Areas (PATA) from June 1, 2018 to June 30
As per apnaqanoon,Employment income exemptions Medical allowance/expenses: Reimbursement of expenses on medical treatment or hospitalization or both received by an employee is exempt from tax. Medical allowance of up to 10% of basic salary is exempt if the facility of reimbursement of medical expenses is not available to the employee
As per apnaqanoon,Pakistan levies tax on its residents on their worldwide income. A non-resident individual is taxed only on Pakistan-source income, including income received or deemed to be received in Pakistan or deemed to accrue or arise in Pakistan
As per apnaqanoon,Pakistan’s Federal Board of Revenue has published the Finance (Supplementary) Act 2023, which received the assent of the President (was enacted) on 23 February 2023. The main measures of the Act include the following, which generally apply with immediate effect: The general sales tax rate is increased from 17% to 18%;