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Tag Archives: Tax

How to File Annual Income Tax Return?

To learn how to file an annual income tax return, there are a few necessary things to be known. Firstly we have to see who or which person have to return his file i-e they are Categorized as: Salary Individual Business Individual AOP(ASSOCIATION OF PERSONS) Company First three categories are termed as other than the company. STEPS TO FOLLOW: To upload ITR (INCOME TAX RETURN), there are following steps to be noted: 1- First download the ITR Software on your PC or Laptop to perform the following task. 2- In the next step you have to Prepare the Return, for this gather all the information about your Income, Tax payments, deductions etc. Compute the personal details and TDS(Tax deducted at …

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Corporate Tax Rate in Pakistan 2019

What is Corporate Tax? Corporate tax is also known as a company tax or corporation tax. Corporate tax is a direct tax which a jurisdiction imposes on the income of any corporation or analogous legal entities. Several countries impose such type of taxes on the national level. Corporate taxes are also imposed at the state or level local. The corporate tax of a country is applicable on: Corporate Tax Rate in Pakistan In Pakistan corporate tax is a type of tax which is collected from the companies. The amount of the corporate tax is based on the net income of the companies while they are exercising their business activity which is usually during one business year.  An income source of …

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Pakistan Ranks 4th in Highest Telecom Tax Paying Nations in World

All of us already know that Pakistani nation is one of the highest tax paying nations when it comes to Telecom industry. To be exact, Pakistan is the fourth highest tax paying nation via telecom. Aslam Hayat Khan, Chief Corporate Affairs and Security Officer of Telenor Pakistan on behalf of Telecom Industry stated the above and explained that how Pakistani government could have gained much more from telecom industry by rationalization of taxes. Aslam Hayat Khan stated that the following are the key telecom indicators of Pakistan Telecom market: 137 million connections per 60 million users 2014 revenues of telecom industry in Pakistan are 466 Billion PKR Foreign direct investment in 2014 is PKR 90.3 Billion PKR (34.1% of total …

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Petrol Becomes Cheaper than CNG in Pakistan

After Prime Minister of Pakistan has announced the reduction in prices of petroleum products by 7.99 Rupees, Petrol has become cheaper than CNG for the first time in 15 years. New price of petrol is 70.29 Rupees per liter while CNG is available in the market at a price of 71.50 Rupees per KG. The new prices of Petrol will be applicable from 1st of February 2015. Sales tax on petrol has been increased from 22 percent to 27 percent. Last month, the sales tax was increased from 17 percent to 22 percent. Due to reduction in the prices of petrol, it is observed that petrol consumption has heavily taken off and its availability in different cities of Pakistan was …

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