Tax laws in Pakistan have allowed authorities to arrest defaulting taxpayers. This power has is granted under the Income Tax Ordinance, of 2001.
Income tax is an important source of revenue for any country, and Pakistan is no exception. The Income Tax Ordinance, 2001, is the main legislation governing the taxation of income in Pakistan.
Pakistan is a country that attracts a significant amount of foreign investment and remittance flows. As a result, there are many residents in Pakistan who have foreign-source income.
When it comes to tax assessment in Pakistan, it’s important to understand the rules around currency conversion.
Property taxes are an important source of revenue for governments all over the world, and Pakistan is no exception.
Massive Pakistani Rupee (PKR) depreciation against the US dollar is main culprit behind significant surge in petroleum prices in the country.
(The article is written by Fida Kibbi, Vice President and Head of Marketing, Communications and Sustainability & Corporate Responsibility at Ericsson Middle East and Africa) During COP27, that took place in Egypt, world leaders have grappled over what must be done to curb global warming. Seven years ago, world leaders signed an international treaty to […]
People of Pakistan are in shock after back to back increase in petroleum prices up to 50.71 per cent by the government. The coalition government led by PML-N in a span of one week jacked up the prices of petroleum products first on May 26, 2022 and second on June 02, 2022. Petrol, which is […]
It is generally known that affordability issues in buying essential items lead to rise in street crime. Pakistan is witnessing massive surge in prices of essential items over the period of last few months with the rise in prices of commodities in both international and domestic markets. The new coalition government by PML-N in a […]
KARACHI: Sales Tax / Value Added Tax (VAT) is the most significant source of tax collection in the world. Unlike direct tax it is known as tax on consumption and involves various ways and means to avoid/evade legitimate government revenue.