Pakistan News

    Income Tax In Pakistan 2011

  • Weak personal income tax compliance affecting tax culture in Pakistan: report

    ISLAMABAD: A new United Nations report says that the weak personal income tax (PIT) compliance in Pakistan poses serious questions about the accountability and fairness of the system and this in the long run casts a shadow on the efforts to create conducive tax culture in society...

    The importance of closing the per­sonal income tax loopholes exploited by the rich should not be overlooked, says the report released by the United...

  • Here’s how you can file your income tax in Pakistan

    Want to avail better than usual services at airports, excise offices? Want to get that new car at a lower price? Or even that prime piece of real estate at a lower-than-asking rate? Want to enjoy a minimal withholding tax on all your banking transactions? Did you recently suffer a loss in your business and need a tax waiver?If you answered yes to any of those questions, then you need to file your tax returns and wealth statement so that you...

  • Raymond Davis pens tell-all on 2011 Pakistan incident

    Raymond Davis — United States citizen and ex-Central Intelligence Agency employee who sparked a diplomatic storm in Pakistan in 2011 after shooting dead two young men in Lahore — has written a book about his experience...

    In his memoir, titled The Contractor: How I Landed in a Pakistani Prison and Ignited a Diplomatic Crisis, Davis talks in detail about his experience in Pakistan...

  • FBR launches income tax awareness drive

    KARACHI: A large number of public and private sector employees do not file their tax returns under the misconception that since income tax has been deducted at source there was no need for filing...

    The two-member team, led by FBR member Facilitation and Tax Education (FATE) Nausheen Javaid Amjad, is conducting a tax awareness drive in Karachi which aims to motivate salaried individuals to file their tax returns before the due date of...

  • SC notes discrepancies in Jahangir Tareen's income on tax returns, nomination papers

    The Supreme Court on Thursday questioned Advocate Sikander Mohammad, the counsel representing Pakistan Tehreek-i-Insaf (PTI) Secretary General Jahangir Tareen, regarding discrepancies in his client's income records...

    During the hearing, the court observed that the income declared by Tareen before the Election Commission of Pakistan (ECP) in his nomination papers was less than the figure declared on his tax returns, wondering if the...

  • Sindh proposes single tax on farm income

    KARACHI: The Board of Revenue (BoR), Sindh, has proposed replacing over a dozen farm taxes with a single provincial tax for agriculture income, as part of land record computerisation project...

    By implementing the modern tax assessment system based on digitalised record of farm lands, the BoR aims to boost agriculture income tax to Rs4...

  • Income tax paid by lawmakers fails to match their lifestyle

    The fourth tax directory of 1,160 parliamentarians relea­sed by Finance Minister Ishaq Dar on Thursday gives some insight into their wealth, based on the tax paid by members of the National Assembly, the Senate, and provincial assemblies, but the lifestyle and daily expenditures of many of them are in stark contrast to what the income tax declarations indicate...

    The directory shows that, save a few worthy exceptions, the sums paid as...

  • India to simplify income tax law to ease doing business

    NEW DELHI: India has set up a new panel to simplify the country’s 55-year-old income tax law, Finance Minister Arun Jaitley said on Tuesday, part of an effort to make it easier to do business...

    The panel will suggest ways to create predictability and certainty in tax laws without having a substantial impact on the tax base and revenue collection, Jaitley told reporters...

  • Strong income tax growth pushes UK borrowing to 8-year low

    LONDON: Strong income tax receipts pushed British government borrowing to its lowest May reading since 2007, adding to signs that revenue growth could play a major role in debt reduction plans being drafted by finance minister George Osborne...

    Friday’s borrowing data offers the Conservatives some reassurance that after five years when spending cuts drove reductions in the budget deficit, higher tax revenues will play a greater role...

  • Mechanisms being evolved to tax agriculture income: Ayesha

    LAHORE: Punjab is developing database and putting in place efficient systems to tackle problems in the way of proper implementation of tax on agriculture income from 2017-18...

    “We are working on it – developing mechanisms and putting in place efficient systems – to levy the tax on agriculture income,” provincial Finance Minister Ayesha Ghaus Pasha told a post-budget press conference on Tuesday...

  • 131,811 file income tax returns by Oct 5

    ISLAMABAD: The government is facing difficulties in broadening the country’s tax base as only 131,811 people filed their income tax returns until Oct 5 in the tax year 2015, according to a tax official...

    Until Sept 30 last, which was the last date for filing of tax returns, only 110,721 people filed their returns...

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