17 Dec
The latest tax laws in Pakistan have had a major impact on both individuals and businesses. For individuals, the government has introduced a revised income tax rate structure which includes an increase in the highest tax rate from 30% to 35%. This has resulted in a significant increase in the amount of tax that individuals must pay, while also making it more difficult for them to save and invest. For businesses, the government has introduced a new tax regime which includes a standard corporate tax rate of 30%, a reduced rate of 25% for small and medium-sized enterprises, and a 10% tax on digital services. These changes have led to an increase in the overall tax burden for businesses, and have made it more difficult for them to remain competitive in the global market. Additionally, the government has also introduced a withholding tax on payments made to non-residents and foreign companies, which has further increased the tax burden for businesses. Overall, the latest tax laws in Pakistan have had a significant impact on both individuals and businesses, leading to an increased tax burden for both.
If you have any questions or concerns regarding your tax returns, please do not hesitate to contact us. We are here to help and are happy to provide answers to any questions you may have.