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The Inland Revenue Service (IRS) is a department of the Federal Board of Revenue (FBR) in Pakistan. It was established in 2009 and holds the responsibility for overseeing various aspects of domestic taxation, encompassing Sales Tax, Income Tax, and Federal Excise Duty. [1] [2]
Low Tax-to-GDP Ratio: Pakistan’s tax-to-GDP ratio remains lower than the global average. In recent years, the ratio has been approximately 9.5%, far below that of neighboring countries like India (16%) and Bangladesh (12%). This indicates inefficiencies in tax collection and necessitates systemic reforms.
The Federal Board of Revenue (FBR) (Urdu: وفاقی بورڈ محصولات), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax ...
To decipher the tax impact of charitable donations, we spoke to a few tax experts to share their insights as well as their best advice to ensure you’re getting the full tax benefit of your ...
The following list of countries by charitable donation, prima facie, measures the generosity of nations by showing the total charitable donations from individuals within the nation, as a percentage of the nation's GDP.
The Pakistan Centre for Philanthropy (PCP) is an independent not-for-profit support organisation based in Islamabad, Pakistan. Founded in 2001, PCP is promoting indigenous philanthropy for social development across the country, and is probably the first philanthropy-support organisation in the Islamic world.
In Pakistan, the system of compulsory collection and distribution of Zakat and Ushr began in 1980, [1] with an ordinance decreed by General Muhammad Zia-ul-Haq calling for a 2.5% annual deduction from personal bank accounts on the first day of Ramadan, with the revenue to be used for poverty relief.
Download as PDF; Printable version; In other projects ... is a list of notable domestic and international non-governmental organizations operating in the Islamic ...