Is it Flat tax or based on different income levels? Is there tax on foreign income? How many people actually pay?
Re: What is the income Tax system in Pakistan like for individuals?
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Re: What is the income Tax system in Pakistan like for individuals?
Its not flat rate. Its a similar graduated scale, like you find in most countries. Plus there is a lot of emphasis on withholding tax, so all employers, customers etc will withhold income taxes, which can be adjusted with your final tax liability at the end of the year.
Most salaried people pay taxes, since they don't have a choice. MAny self-employed, business owners try to cheat as much as they can get away with.
Re: What is the income Tax system in Pakistan like for individuals?
Yaar, but I have never heard anyone from Pakistan ever go on a rant about how they are taxing so much, or how taxing is so unfair and what not.
Re: What is the income Tax system in Pakistan like for individuals?
Have a look at
It describes everything in details.
Re: What is the income Tax system in Pakistan like for individuals?
Pakistan has an extremely low rate of direct taxation....so income tax fraud is rife..most revenues come through inodrect tax which is more painful for the poor.