Cash Withdrawals Now Taxed for Non-Filers
Boosting coffers and transparency, Pakistan has brought back cash withdrawal taxes for 2024. The aim? Encourage participation in the formal tax system by targeting those outside the net. Here’s what […]
Buying or Selling? New Tax Rates Shake Up Pakistan’s Real Estate
Get ready for a tax twist on Pakistani property deals in 2024! The government has unveiled new withholding tax rates that favor “good citizens” – those on the Active Taxpayers […]
Advance Tax on Buying Property in Pakistan
Purchasing property in Pakistan involves various legal and financial considerations, including advance tax on the transaction. This article focuses on Section 236K of the Income Tax Ordinance (ITO) 2001, which […]
Tax Savings on Profit on Debt by Filers
This article explains the rules surrounding tax on profit on debt in Pakistan, as outlined by the Income Tax Ordinance, 2001. Who is affected? This tax applies to individuals (not […]
Benefits of Filing Taxes on Time in Pakistan
Filing taxes on time is an important responsibility of every citizen in Pakistan. It is a legal obligation that can have significant benefits in the long run. Unfortunately, many taxpayers […]
File Tax Return with No Business Activity
In Pakistan, navigating business regulations can be tricky, especially for small and family-owned businesses. Understanding sales tax compliance, even when there’s no business activity, is crucial. This article explains the […]
What You Need to Know About In-Active Sales Taxpayers in Pakistan
The Sales Tax Act, 1990 (STA) is a law that governs the levy and collection of sales tax in Pakistan. The STA defines an “in-active taxpayer” as a registered person […]