Escolar Documentos
Profissional Documentos
Cultura Documentos
Taxation System
Unilateral Relief
A person resident in Pakistan is entitled to a relief in tax on any
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Customs
Goods imported and exported from Pakistan are liable to rates
of Customs duties as prescribed in Pakistan Customs Tariff.
Customs duties in the form of import duties and export duties
constitute about 37% of the total tax receipts. The rate
structure of customs duty is determined by a large number of
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Sales Tax
· Sales Tax is levied at various stages of economic activity at
the rate of 15 per cent on:
· all goods imported into Pakistan, payable by the importers;
· all supplies made in Pakistan by a registered person in the
course of furtherance of any business carried on by him;
· there is an in-built system of input tax adjustment and a
registered person can make adjustment of tax paid at earlier
stages against the tax payable by him on his supplies. Thus the
tax paid at any stage does not exceed 15% of the total sales
price of the supplies;
1950
s 3 12.2
1960 8 8.9
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s
1970
s 20 18.5
1980
s 120 24.0
1990
s 806 21.8
2000
s 2668 20.0
1
Collection in millions (converted into US$ at the
current exchange rate Pak Rs.60 =US$ 1)
2
Growth in percent
There are federal taxes like Ushr being collected by the provincial
govts, provincial taxes like motor vehicle tax being collected by
the federal govt. Local taxes like the property tax is being
collected by the provincial govt. and reimbursed to municipal
corporation and committees.
Income Tax
Super Tax
Wealth Tax
Gift tax
Turnover Tax
Import Duties
Import Surcharge
Export Duties
Iqra Surcharge
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Estate Duty
Zakat
Ushr
Tobacco Cess
Cotton Cess
Airport Tax
Provincial Taxes:
1. Professional Tax
2. Property Tax
3. Vehicle Tax
4. Stamp Duty
5. Entertainment Tax
6. Betterment Tax
7. Social Security Contribution
8. Explosive License Fee
9. Provincial Education Cess
10. Capital Gain Tax
11. Punjab Airport Tax
12. Provincial Excise Duty
13. Karachi Dock Labor Board Cess
14. Cess on Hotels
15. Cotton Fees
16. Paddy Development Cess
17. Provincial Excise Duty
18. Land Revenue Tax
19. Employee Old Age Benefit Contribution
20. Trade Tax on Jewelers, Garment shops imposed by
Baluchistan govt. in 1997-98 budget
The tales of corruption that the govt. and opposition has been
telling the nation for last two decades including the ripping-off the
biggest development authorities like CDA,LDA, KDA and PDA.
However , the plunder of smaller development authorities like the
Rawalpindi Development Authority, Gujranwala Development
Authority and Faisalabad Development Authority has largely
remained untold.
The contractors and those who award the contracts have a simple
way of cheating, both the govt. and the common men. The bids
are invited on the basis of unrealistic low rates with the result that
contract is awarded for a nominal amount. However, once the
contract is awarded the contractor is given a free hand to
overcharge and the bulk of the amount charged as octroi and
other municipal taxes end up lining the pockets of the
bureaucrats and contractors.
On June 25, 1996 when the Supreme Court restored the Local
Bodies in Punjab, the first official work, some of the restored
chairmen performed on rushing to their offices was cancelling
octroi contracts and stop payment on the so-called development
projects. They knew that their chairmanship was not worth a
penny if the contractors awarded by their predecessors were to
stay.
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The local bodies also raise small revenue from auctions for
public latrines, disposal of trash and sewer water which is used
as fertilizer but the income from sewer water has ceased
because farmers have stopped using it as fertilizer because of
plastic bags getting mixed into it.
PIA was suffering Air line lost Rs. 4.4 billion in 2005; Rs. 12.8
billion in 2006 and Rs. 13.6 billion in 2007, which surged to Rs40
billion in 2008. The balance sheet of the national airlines is in
such a condition that it could be declared bankrupt. According to
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experts and PIA sources, PIA with current deficit and number of
employees could not earn profit in next 50 years.
How PIA got in to this money crisis and how it can turn around?
Solution
straight away. First they need right leadership, qualified staff, un-
biased and merit based hiring, clear vision, right direction for a
business, better technology, service quality and good public
image. These are the main areas to give serious and immediate
attention, in order to improve performance of PIA. Although this is
not an easy task to change the whole system right away, but we
can do little, to start anything big, and someone has to take the
initiative, before it’s too late. Virtually, PIA is already bankrupt
and now is the time to start taking actions, rather sit idle and
waiting for miracles.
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PAKISTAN RAILWAYS
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