To install click the Add extension button. That's it.

The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. You could also do it yourself at any point in time.

4,5
Kelly Slayton
Congratulations on this excellent venture… what a great idea!
Alexander Grigorievskiy
I use WIKI 2 every day and almost forgot how the original Wikipedia looks like.
Live Statistics
English Articles
Improved in 24 Hours
Added in 24 Hours
What we do. Every page goes through several hundred of perfecting techniques; in live mode. Quite the same Wikipedia. Just better.
.
Leo
Newton
Brights
Milds

Taxation in Pakistan

From Wikipedia, the free encyclopedia

Pakistan's Current Taxation system is defined by Income Tax Ordinance 2001, promulgated on 13 September 2001, which became effective from 1 July 2002.

YouTube Encyclopedic

  • 1/5
    Views:
    1 745
    255 795
    2 918
    15 616
    3 387
  • Full Program | Tax System in Pakistan by Mannar Ahmed Siddiqui
  • Income Tax : AY 15-16 : Introduction : Lecture 1
  • Economic Views - Current taxation system in Pakistan
  • The 4 Main Types of Taxes We Pay
  • Lecture I What is Income Tax.mp4

Transcription

Contents

History

Income Tax Act of 1922

Income Tax Act of 1929: prevalent in the British Raj and was adopted by the Government of India as its Income Tax Law.

Income Tax Ordinance (1979)

The Income Tax Ordinance was the first law on Income Tax which was promulgated in Pakistan from 1 July 1979 by Government of Pakistan.

Income Tax Ordinance 2001

To update the tax laws and bring country's law in accordance with international standards, Income Tax Ordinance 2001 was promulgated on 13 September 2001, which became effective from 1 July 2002.

IT rules 2002

IT rules 2002 were promulgated by FBR on 1 July 2002 in exercise of powers granted under section 237 of the Ordinance.

Problems

Taxation in Pakistan is a complex system of more than 70 unique taxes administered by at least 37 agencies of the Government of Pakistan.[1]

According to the International Development Committee, Pakistan had a lower-than-average tax take. Only 0.57% of Pakistanis, or 768,000 people out of a population of 190 million pay income tax.[2]

Federal taxes

Federal taxes are administered by the Federal Board of Revenue.

Corporate Income tax rates Corporate Income tax rates are 30% for companies and 35% for Banking Industry for TY 2018 [3]

Corruption

According to a 2002 study, 99% of 256 respondents reported facing corruption with regard to taxation. Furthermore, 32% of respondents reported paying bribes to have their tax assessment lowered, and nearly 14% reported receiving fictitious tax assessments until a bribe was paid.[4]

Further reading

References

  1. ^ Horrigan, Kevin (2010-09-26). "Take a lesson from Pakistan: Taxes are for suckers". Saint Louis Post-Dispatch. Retrieved 2010-11-07.
  2. ^ https://www.bbc.co.uk/news/uk-politics-22017091
  3. ^ Abdul Wahid Ahmed _ Faculty at Institute of Business Management _ Ref- ITO 2001 _ Karachi, Pakistan.
  4. ^ "Nature & Extent of Corruption in the Public Sector" (PDF). Transparency International–Pakistan. 2002. Retrieved 2010-11-07.


This page was last edited on 4 July 2018, at 01:29
Basis of this page is in Wikipedia. Text is available under the CC BY-SA 3.0 Unported License. Non-text media are available under their specified licenses. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc. WIKI 2 is an independent company and has no affiliation with Wikimedia Foundation.