Search results
Results from the WOW.Com Content Network
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 FBR, in 2021, the number of registered tax filers had grown to 7.1 million, out of whom only 2.5 million were active tax filers. [ 2 ]
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
The rate for GST, effective since 1 October 2010 is 15%. [77] This 15% tax is applied to the final price of the product or service being purchased and goods and services are advertised as GST inclusive. Reduced rate GST (9%) applies to hotel accommodation on a long-term basis (longer than 4 weeks).
The flat tax rate is then applied to the resulting "negative income," resulting in a "negative income tax" that the government would owe to the household—unlike the usual "positive" income tax, which the household owes the government. For example, let the flat rate be 20%, and let the deductions be $20,000 per adult and $7,000 per dependent.
Pakistan has experienced an economic crisis as part of the 2022 political unrest. It has caused severe economic challenges for months due to which food, gas and oil prices have risen. As of 1 February 2025 Pakistan inflation rate recorded 2.4% lowest in 9 years. The Russian invasion of Ukraine has caused fuel prices to rise worldwide. Excessive ...
The 2023–24 Pakistan federal budget was the Federal Budget implemented by the government of Pakistan for the fiscal year 2023–24. The revised budget was presented to Parliament on 25 June, 2023 after Finance Minister Ishaq Dar introduced new taxation measures and expenditure cuts. The budget was accepted the next day.
Pakistan primary surplus target of 0.2% of GDP; Targeted fiscal deficit of 4.9% of GDP; Increased tax on banks and fertilizers; Luxury tax on cars with 1,600cc engine size and above. Tax on real estate transactions to 2% versus 1% for tax-payers; Increased taxes on tobacco companies by a third to 200 billion rupees; Fuel cuts for government ...
Although the template for the collection of vehicle property tax depending on the vehicle's type is drafted by the national government, the property tax is owed to the local government in which the vehicle is currently registered and the local council can vote to reduce or to increase the tax owed by a margin (for example, in the year 2018, the ...