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Taxation in Pakistan refers to the system of taxes imposed by the government on individuals and businesses operating within Pakistan. The taxation framework in Pakistan is a critical component of the country’s economic structure, designed to generate revenue for the government, redistribute wealth, and fund public services. Taxation in Pakistan is a complex system of more than 70 unique ...
Inland Revenue Service (Pakistan) 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]
Federal Board of Revenue ... 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.
The Federal Tax Ombudsman (FTO, Urdu: وفاقی ٹیکس محتسب پاکستان) evaluates complaints against federal tax agencies. Article 37 of the Constitution of Pakistan calls for inexpensive and expeditious justice.
The Benazir Income Support Programme (BISP) is a federal unconditional cash transfer poverty reduction program in Pakistan. Launched in July 2008, it was the largest single social safety net program in the country with nearly Rs. 90 billion ($900 million) distributed to 5.4 million beneficiaries in 2016.
The Employees' Old-Age Benefits Institution (EOBI) (Urdu: ادارہِ مراعاتِ معمّر ملازمین) is the pension, old age benefits and social insurance institution of the Government of Pakistan. It operates under the control of Ministry of Overseas Pakistanis and Human Resource Development. [1] It came into formation in 1976, through the passage of the Employees' Old-Age ...
The 2023–24 Pakistan federal budget was the Federal Budget implemented by the government of Pakistan for the fiscal year 2023–24. The revised budget was presented to Parliament on 25 June, 2023 after Finance Minister Ishaq Dar introduced new taxes and expenditure cuts.
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income.