Nishtar & Zafar | Pakistan Law Firm | Tax, Corporate / Company Law, Energy Law, Telecommunication Law Specialist lawyers

GST to Rise by 1 Percent

The Finance Bill 2010 proposes to raise the General Sales Tax rate 1 percent to 17 percent. The proposal if enacted into law would come into force from July 1 17 percent. The proposal if enacted into law would come into force from July 1.

The Finance Bill 2010 proposes to raise the General Sales Tax rate 1 percent to 17 percent. The proposal if enacted into law would come into force from July 1 17 percent. The proposal if enacted into law would come into force from July 1.

Basic Income Tax Exemption Raised to Rs. 300,000

Pakistan’s proposed budget law seeks to raise the basic exemption from the income tax levy to Rs. 300,000 for all taxpayers. The current exemption is Rs 100,000 for non-salaried taxpayers, Rs. 200,000 for male salaried taxpayers and Rs. 260,000 for the female salaried taxpayers.

Pakistan’s proposed budget law seeks to raise the basic exemption from the income tax levy to Rs. 300,000 for all taxpayers. The current exemption is Rs 100,000 for non-salaried taxpayers, Rs. 200,000 for male salaried taxpayers and Rs. 260,000 for the female salaried taxpayers.

Gain on Equity Stocks to be Taxed

The Finance Bill 2010 seeks to levy capital gain tax on the gain from the sale of stocks within one year of their purchase at 10 percent if shares held for less than 6 months and 7.5 percent if shares held for more than six months but less than one year.

The Finance Bill 2010 seeks to levy capital gain tax on the gain from the sale of stocks within one year of their purchase at 10 percent if shares held for less than 6 months and 7.5 percent if shares held for more than six months but less than one year.

Sale of Cigarette Filter Rod Taxed @ Rupee 1

The budget proposes to impose Federal Excise Duty @ Rs. 1 per filter rod meant for using in cigarettes. The duty is imposed to bring into the tax net the unregistered persons engaged in the cigarette manufacturing

The budget proposes to impose Federal Excise Duty @ Rs. 1 per filter rod meant for using in cigarettes. The duty is imposed to bring into the tax net the unregistered persons engaged in the cigarette manufacturing

Companies to Get 5 Percent Tax Credit on Getting Listed

The closely held companies would get an income tax credit of 5 percent if the get listed on one or more stock exchange in Pakistan. The incentive would only be available in the year of such listing.

The closely held companies would get an income tax credit of 5 percent if the get listed on one or more stock exchange in Pakistan. The incentive would only be available in the year of such listing.

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Nishtar and Zafar is a premier corporate law firm in Pakistan with a proud record of delivering top-quality legal solutions. Our focus is always on helping deals happen without losing sight of the limits imposed by the concerned laws. We work in close relationship with our clients to understand their businesses, which enables us find the best possible solutions addressing the peculiarities of each transaction. We provide a wide array of legal and policy advice to businesses, institutions, regulators, and the governmental authorities.

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