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Federal income taxes are administered by the Federal Board of Revenue. The period from July 1 to June 30 is considered as a normal tax year for Pakistan tax law purposes. Corporate Income tax rates Currently, the Corporate Income tax rate is 29% for tax year 2019 and onwards whereas the corporate tax rate is 35% for Banking Industry for TY 2019.
Map of the world showing national-level sales tax / VAT rates as of October 2019. Additional local taxes may apply. [citation needed]A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 46th largest in terms of nominal GDP. With a population of 241.5 million people as of 2023, Pakistan's position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according ...
Dynamics. Pakistan, in 2022, had a (GDP nominal) of around US$377 billion and (GDP PPP) of around US$1.512 trillion, according to trading economics. [ 1] This value can be further divided into the unit levels (GSP), providing an outlook of how much value each unit contributes to the national GDP. Pakistan has traditionally followed a "top-down ...
v. t. e. This article lists countries alphabetically, with total tax revenue as a percentage of gross domestic product ( GDP) for the listed countries. The tax percentage for each country listed in the source has been added to the chart. Tax revenue as percentage of GDP in the European Union. Relation between the tax revenue to GDP ratio and ...
Website. www .fbr .gov .pk. The Federal Board of Revenue (FBR) ( Urdu: وفاقی بورڈ محصولات ), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates ...
The Inland Revenue Service ( IRS) is a department of the Federal Board of Revenue (FBR) in Pakistan. It was established in 2009 and holds the responsibility for overseeing various aspects of domestic taxation, encompassing Sales Tax, Income Tax, and Federal Excise Duty. [ 1][ 2]
The incumbent government of Pakistan under Prime Minister Imran Khan has presented its third budget for the Fiscal Year 2021-22. This budget has a value of Rs8.49 trillion, an increase of Rs700 billion over the last budget, and a GDP growth rate target of 4.8 percent. The 2021-22 budget is important as the country has presented positive ...