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Below is a summary of the applicable sales tax rates in Pakistan: Sales tax on goods: 18%. Sindh Sales tax on services: 19.5%. Punjab Sales tax on services: 16%. Balouchistan Sales tax on services: 15%. Khyber Pakhtunkhwa (KPK) Sales tax on services: 19.5%. Islamabad Capital Territory (Tax on Services): 16%.
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 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 through Inspectors-IR that keep ...
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.
Internet tax is a tax on Internet -based services. A number of jurisdictions have introduced an Internet tax and others are considering doing so mainly as a result of successful tax avoidance by multinational corporations that operate within the digital economy. [1] Internet taxes prominently target companies including Facebook, Google, Amazon ...
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 Federal Tax Ombudsman Ordinance of 2000 [1] and the Federal Ombudsman Institutional Reforms (FOIR) Act of 2013 [2 ...
Previously known as the Customs & Excise Group, it was re-classified as Pakistan Customs Service in November 2010, when the responsibilities of sales tax and federal excise were taken away and a new occupational service was created to collect Sales Tax, Federal Excise, and Income Tax, named as Inland Revenue Service (IRS). Custom House, Karachi
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 ...