Tax Work

July 25, 2024

IMF Proposes 45% Tax Rate on Agricultural Income in Pakistan

As Pakistan struggles with its economic challenges, the International Monetary Fund (IMF) has put forth a significant proposal. The IMF recommends imposing a standard individual income tax rate of up to 45% on agricultural income. This move aims to address income tax disparities without requiring constitutional amendments. Key Points: Background and Structural Benchmarks: Pakistan seeks […]

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FBRs New Directive A Step Towards Transparent Taxation in Pakistan

The Federal Board of Revenue (FBR) of Pakistan is entering a new era of tax transparency and compliance with its latest directive, SRO 1771(I)/2023. The notification now requires real-time access to databases and information across a wide range of organizations, including financial institutions like commercial banks, government departments, and other private entities. This move is a

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NTN Registration with Taxwork is Fast and Easy!

A complete guide to Taxwork NTN Registration Process The prerequisite for filing an income tax return is having a National Tax Number – NTN by registering with Federal Board of Revenue (FBR). In this blog, we will tell about the NTN registration process using Taxwork.pk. Log on to www.Taxwork.pk to start the process. Sign up by entering your

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Business NTN Registration Process How I can Register my Business NTN in Pakistan conveniently

You most likely have heard about individual NTN, and may be guessing what if other than individual could have NTN registration facility? if so, then your guess is accurate. NTN is registered not only just for an individual, it is also registered for business, company, (AOP) and for other entities. NTN irrespective of its nature,

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Single Sales Tax Returns A New Sales Tax Returns Portal

A new development has been put forward by the Federal Board of Revenue FBR by launching Single Sales Tax return portal across the country. This vital breakthrough is aimed at facilitating the taxpayers, promoting ease of doing business and to reduce compliance costs. This leads to a keynote and cornerstone achievement of the FBR with

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Sales Tax Its Fundamental Concepts Those Who Are Required to Register for Sales Tax and Basics of Sales Tax Registration

Sales Tax in Pakistan was regulated even before the formal establishment of Pakistan; for decades, the Sales Tax was based upon a very general concept, but in the late ’90s, some amendments had been made. Sales Tax then changed into Value Added Tax (VAT). The VAT system had been very successful in the UK; then, attempts

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