The Federal Board of Revenue (FBR) has recently announced significant tax exemptions for overseas Pakistanis, allowing them to benefit from reduced tax rates under Sections 236C and 236K of the Income Tax Ordinance, 2001, even if they are not listed on the Active Taxpayers List (ATL). citeturn0search16 This development is particularly advantageous for non-resident Pakistanis […]
Understanding the tax rates applicable to businesses in Pakistan is crucial for compliance and financial planning. This article provides a detailed overview of corporate tax rates, citing relevant provisions of Pakistan’s Income Tax Ordinance, 2001, notifications by the Federal Board of Revenue (FBR), and decisions by the High Courts and the Supreme Court of Pakistan.
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Tax Laws
Understanding the tax rates applicable to salaried individuals in Pakistan is crucial for both taxpayers and employers. This article provides a detailed overview of the tax rates, their legal basis, and relevant judicial precedents. We will also reference the relevant laws and SROs issued by the Federal Board of Revenue (FBR) to ensure clarity and
What is the Tax Rate for Salaried Individuals in Pakistan? Read More »
Tax Laws
Income tax in Pakistan is governed by the Income Tax Ordinance, 2001 (آرڈیننس انکم ٹیکس 2001), which lays out the framework for calculating taxable income, applicable rates, and exemptions. This article will explain the income tax calculation process, referencing the relevant laws, SROs issued by the Federal Board of Revenue (FBR), and court decisions that
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Banking & Finance, Tax Laws
Filing income tax returns is a fundamental obligation for taxpayers, ensuring compliance with the tax regulations of Pakistan. This article provides a detailed overview of the annual deadline for filing income tax returns, references to relevant legal provisions, and important judicial interpretations.
What is the Last Date for Filing Income Tax Returns Annually in Pakistan? Read More »
Banking & Finance, Tax Laws
Filing an income tax return is a fundamental duty of every eligible citizen and entity in Pakistan. This obligation is enshrined in the Income Tax Ordinance, 2001 (“انکم ٹیکس آرڈیننس, 2001”), the key legislative framework governing tax compliance in the country. The ordinance provides comprehensive details on who is required to file an income tax return. This article explains the criteria, references the relevant provisions, and highlights judicial interpretations to offer a clear understanding of this legal duty.
Who is Required to File an Income Tax Return in Pakistan? Read More »
Banking & Finance, Tax Laws
Obtaining a National Tax Number (NTN) for a Non-Governmental Organization (NGO) or a company is a straightforward process. It involves registration on the Federal Board of Revenue (FBR) portal and submitting the required documents. Here’s a step-by-step guide to help you navigate this process:
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Civil Law, Tax Laws