Pakistan is a developing country with a large population. The government relies on taxes to fund its essential services, such as education, healthcare, and infrastructure. However, the tax-to-GDP ratio in […]
Permanent establishment is a crucial concept in taxation that determines the tax liabilities of foreign entities operating within a country’s jurisdiction. In Pakistan, the Income Tax Ordinance 2001 defines and […]
When it comes to taxation in Pakistan, it is essential to understand the various heads of income. The tax system classifies income under different categories, each with its specific rules […]
Double taxation can be a significant concern for individuals and businesses operating in multiple jurisdictions. It occurs when income is taxed twice by different tax authorities. However, with careful planning […]
Tax fraud is a serious crime that can have a significant impact on the economy. It can also lead to financial penalties and even imprisonment for those who are caught. […]
Turnover tax is a type of indirect tax that is levied on the value of goods and services sold by businesses. In Pakistan, turnover tax is levied at a rate […]
As a taxpayer in Pakistan, you have certain rights. These rights are guaranteed by the law and should be respected by the tax authorities. Some of the most important taxpayer […]
Tax revenue is a major source of income for the government of Pakistan. In 2020, tax revenue accounted for about 10.6% of GDP. The main sources of tax revenue in […]
Taxation is a key tool for governments to raise revenue and finance public services. However, taxation can also be a complex and challenging process. In Pakistan, there are a number […]
Tax accounting is a specialized area of accounting that deals with the preparation of tax returns and the reporting of tax information to the government. Tax accountants are responsible for […]
