Does Overseas Pakistanis Pay Quarterly Tax?
Overseas Pakistanis may be required to pay advance tax if they have certain types of income arising in Pakistan. This applies to income such as: Rental Income: If monthly rental […]
How to Verify Tax Exemption Certificates in Pakistan?
Tax exemption certificates are critical documents issued by the Federal Board of Revenue (FBR) in Pakistan that allow certain taxpayers to benefit from reduced tax rates or complete exemption from […]
How to Apply for Reduced Rate of Withholding Tax on Payments to Non Residents?
Taxpayers seeking a reduced rate of withholding tax to payments to non residents must file an application with the Commissioner through the Federal Board of Revenue’s (FBR) online system, IRIS. […]
Overseas Pakistanis Rates of Advance Tax Reduced on Property
The Federal Board of Revenue (FBR) has issued a clarification regarding Section 100BA of the Income Tax Ordinance, which pertains to special provisions for individuals not listed on the Active […]
Employee Training and Facilities Deductions in Pakistan
Investing in People In today’s competitive landscape, skilled and motivated employees are a cornerstone of organizational success. Pakistan’s Income Tax Ordinance, 2001, recognizes this by offering tax deductions for investments […]
How to Claim Deductions from Income from Other Sources
A Guide to Section 40 of the Income Tax Ordinance 2001 While understanding your income under Section 39 of the Pakistani Income Tax Ordinance is crucial, knowing what expenses you […]
Understanding the Difference Between Zero Rated and Exempt Goods for Sales Tax
Sales tax plays a crucial role in government revenue generation. However, certain goods are categorized as either zero-rated or exempt, impacting how the tax applies to them. While both categories […]
Tax Benefits and Exemptions for Judges in Pakistan
Judges in Pakistan enjoy several tax benefits and exemptions that are not available to other individuals. These benefits are outlined in Clause 55 of Part-I of the Second Schedule of […]
Understanding Tax Exemption on Profit on Debt for Non-Residents in Pakistan
As a non-resident earning income from profit on debt in Pakistan, it is important to understand the tax laws and exemptions available to you. The Income Tax Ordinance 2001 provides […]
The Ultimate Guide to Zero-Rated Supplies and Exempt Supplies
Sales tax is a tax that is levied on the sale of goods and services. In Pakistan, sales tax is levied at a rate of 17%. However, there are some […]