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A chit fund is a type of rotating savings and credit association system practiced in India, Bangladesh, Sri Lanka, Pakistan and other Asian countries. Chit fund schemes may be organized by financial institutions, or informally among friends, relatives, or neighbours. In some variations of chit funds, the savings are for a specific purpose.
0% on undistributed profits. 20% CIT on distributed profit. 14% on regular distribution. [15] 57.8% (20% income tax + 2.4% of unemployment insurance tax, 0.8% paid by employer, 1.6% paid by employee and 33% social security which is paid before gross wage by employer), around 57,8% in total
Zakat Councils are responsible for collecting and distributing the Islamic taxes known as Zakat and Ushr in Pakistan. The councils are overseen by the Ministry of Religious Affairs. In Pakistan, the system of compulsory collection and distribution of Zakat and Ushr began in 1980, [1] with an ordinance decreed by General Muhammad Zia-ul-Haq ...
Ignite National Technology Fund [2] or simply Ignite (formerly National ICT R&D Fund) is a non-profit company owned by the Government of Pakistan and administered by the Ministry of Information Technology and Telecommunication. [3] It provides grants to startups and innovate projects, operates incubators [4] and digital skills training [5 ...
cdcpakistan .com. Central Depository Company of Pakistan (CDC) is a Pakistani central securities depository company which provides services for equity, debt and other financial instruments. [1] It is based in Karachi, Pakistan. [2] CDC is regulated by the Securities and Exchange Commission of Pakistan. [3] The current CEO is Badiuddin Akber.
Taxation in Pakistan is a complex system of more than 70 unique taxes administered by at least 37 agencies of the Government of Pakistan. According to the FBR, in 2021, the number of registered tax filers had grown to 7.1 million out of which only 2.5 million were active tax filers.
As of the 2017 Census, there are two megacities, ten million-plus cities, and 100 cities having a population of 100,000 or more. Of these 100 cities, 58 are located in the country's most populous province, Punjab, 22 in Sindh, 11 in Khyber Pakhtunkhwa, six in Balochistan, two in Azad Kashmir, and one in Islamabad Capital Territory.
History. Pakistan joined IMF on 11 July 1950 as newly established country was facing fiscal problems since its creation in 1947 from British India . In 1958, for the first time, Pakistan went to IMF for bailout. For this, IMF lent out US$25,000 (equivalent to $264,014 in 2023) [originally the loan-amount is given in SDR; [4] for this article it ...