Web.pk

Corporate Tax Rate in Pakistan 2018-19 – Super Tax

By Noor Mani — Published on 19/11/2018
ADVERTISEMENT
CONTINUE READING BELOW

Tax pay an essential part in building the economy of the country but unfortunately due to wrong use of our tax money by most of the Govts in Pakistan. People avoid to pay their taxes or try to find ways to prevent it. This has brought Pakistan to very less tax collection. It’s not that people of Pakistan are not willing to pay taxes, it worth to mention here that Pakistan comes in the list of wealthier countries who do charity Pakistan gives 1 per cent of GDP in the charity whereas wealthier countries like Canada gives 1.2 per cent, U.K gives 1.3 per cent. As per calculation, Pakistan gives 2 billion dollars in charity every year.

ADVERTISEMENT
CONTINUE READING BELOW

Coming back to taxes the government has announced a gradual reduction in corporate tax and aims that by 2023 the corporate tax will be reduced to 25 per cent. Currently, the tax corporate tax is 30 per cent, it will be 29 per cent in 2019, and by 2023 it will be 25 per cent.

Super tax implemented in 2015 for rehabilitation of internally displaced persons which was 4 per cent on banking companies and 3 per cent on non-banking companies but only for those companies which has revenue greater than Rs. 500 Million. The super tax will be applicable in 2018-19 but will be reduced by 1 per cent and this reduction will be implemented for both banking and non-banking companies.

Many are against the implementation of the super tax.
People of Pakistan are now more motivated to pay their taxes as the prime minister Imran Khan has promised that he will personally look after their tax money and will ensure that it is being spent at the right place for the betterment of the people.

About Author

Written by
Noor Mani is a senior tech correspondent and renowned professional writer from the Pakistani local Newspaper Weekly Multan. She is a P.E.C. accredited Electronics Engineer with a wide vision of technology and the local media industry scope.

Popular Articles

Funny and Cute Nicknames for Friends in Urdu 2024
ADVERTISEMENT CONTINUE READING BELOWIn Pakistan, it is observed that on a birth of baby there…
23 Jul 2015
Sui Gas Bill Duplicate – View Online Sui Gas Bill of SSGC & SNGC
ADVERTISEMENT CONTINUE READING BELOWThe Sui gas system in Pakistan is distributed into two companies namely…
18 Apr 2016
Top 60 Pakistani Clothing Brands
ADVERTISEMENT CONTINUE READING BELOWWant to figure out the top 60 in Pakistan in 2023? Can…
28 Feb 2017
PTCL DSL/Wireless Router Settings with IP – Username & Password
ADVERTISEMENT CONTINUE READING BELOWLots of new user face problems and difficulty in configuring their modems…
25 Feb 2013
Download Pakistani Dramas – Websites List
ADVERTISEMENT CONTINUE READING BELOW 1.Youtube.com Using Video Downloader Tools: If you prefer to download Pakistani…
31 Aug 2015
Traditional Mehndi & Dholki Songs List With Lyrics 2024
ADVERTISEMENT CONTINUE READING BELOWPakistani wedding is incomplete without different traditions like Mehndi, , Jaga. These…
14 Nov 2013
MOFA Attestation Requirements, Procedure & Process
ADVERTISEMENT CONTINUE READING BELOWThose who want to attest documents from ministry of foreign affairs should…
16 Mar 2015
How to Share Internet Volume from Zong to Zong
ADVERTISEMENT CONTINUE READING BELOWNow you can transfer internet data from your Zong number to another…
13 Aug 2016
Telefilm “Left Right Left ” Cast & Story
ADVERTISEMENT CONTINUE READING BELOWTelefilms on special occasions like Eid ul Fitr and Eid ul Adha…
2 Jul 2019
50 WhatsApp Group Names in Urdu
ADVERTISEMENT CONTINUE READING BELOWWhatsApp ground name has become a very hot topic these days. People…
31 Dec 2015
How To Open Blocked Sites In Pakistan Without Any Software
ADVERTISEMENT CONTINUE READING BELOWAlthough YouTube got a green signal by Government of Pakistan and Pakistan…
16 Oct 2016
Vehicle Registration Number Plates In Pakistan: Comprehensive Guide
ADVERTISEMENT CONTINUE READING BELOWRegistration of vehicles or vehicle registration plates of motor vehicles in Pakistan…
24 May 2016