Tax Rates in Pakistan for 2016-2017, 2015-2016, 2014-2015

Income Tax Rate for Salary Income Individual Tax Payers 2015-2016

Lowest Individual Tax Rate in Pakistan is 2% and Highest Rate is 30%

 

Net Taxable Income Rs

  

Income Tax Rates
 

up to Rs 4,00,000

  

0%
 

Rs 4,00,000 - Rs 5,00,000

  

2%
 

Rs 5,00,000 - Rs 7,50,000

  

Rs 2,000+5% of amount exceeding Rs 5,00,000
 

Rs 7,50,000 - Rs 14,00,000

  

Rs 14,500+10% of amount exceeding Rs 7,50,000
 

Rs 14,00,000 -Rs 15, 00,000

  

Rs 79,500+12.5% of amount exceeding Rs 14,00,000
 

Rs 15,00,000 - Rs 18,00,000

  

Rs 92,000+15% of amount exceeding Rs 15,00,000
 

Rs 18,00,000 - Rs 25,00,000

  

Rs 1,37,000+17.5% of amount exceeding Rs 18,00,000
 

Rs 25,00,000 - Rs 30,00,000

  

Rs 2,59,500+20% of amount Exceeding Rs 25,00,000
 

Rs 30,00,000 - Rs 35,00,000

  

Rs 3,59,500+22.5% of amount exceeding Rs 30,00,000
 

Rs 35,00,000 - Rs40,00,000

  

Rs 4,72,000+25% of amount exceeding Rs 35,00,000
 

Rs 40,00,000 - Rs 70,00,000

  

Rs 5,97,000+27.5% of amount exceeding Rs 40,00,000
 

Above Rs 70,00,000

 

Rs 14,22,000+30% of amount exceeding Rs 70,00,000

 

 

Income Tax Rate for Business Individual & AOP

 

Net Taxable Income Rs

  

Income Tax Rates
 

up to Rs 4,00,000

  

0%
 

Rs 4,00,000 - Rs 5,00,000

  

7%
 

Rs 5,00,000 - Rs 7,50,000

  

Rs 7,000+10% of amount exceeding Rs 5,00,000
 

Rs 7,50,000 - Rs 15,00,000

  

Rs 32,000+15% of amount exceeding Rs 7,50,000
 

Rs 15,00,000 - Rs 25, 00,000

  

Rs 1,44,500+20% of amount exceeding Rs 15,00,000
 

Rs 25,00,000 - Rs 40,00,000

  

Rs 3,44,500+25% of amount exceeding Rs 25,00,000
 

Rs 40,00,000 - Rs 60,00,000

  

Rs 7,19,400+30% of amount exceeding Rs 40,00,000
 

Above Rs 60,00,000

 

Rs 13,19,500+35% of amount exceeding Rs 60,00,000

Corporate Tax Rates in Pakistan 2015-2016

Corporate/ Company Tax Rate 32%

Banking Company Tax Rate 35%

Small Company as defined in Section 2, Tax Rate 25%

 

Profit on Debt 2015-2016

 

Particulars

  

Tax Rate%
 

Profit Exceeds 25 Million

  

10%
 

25 Million to 50 Million

  

25,00,000+12.5% of amount exceeding Rs. 25 Million
 

Profit Exceeds 50 Million

  

Rs. 56,25,000+15% of amount exceeding Rs. 50 Million

 

Capital Gain Tax 2015-2016

Capital gain income derived on immovable property (land) if it is derived within two years is liable to be
taxed under this sub-section [(1A) of section 37] shall be as follows:

 

Particulars

  

Tax Rate%
 

Where holding period of Immovable property
is up to one year

  

10%
 

5%Where holding period of Immovable property is more than one year but not more than two years

  

5%
 

Where holding period o Immovable property is More than two years

 

0%

 

Capital Gain Tax on Disposal of Securities 2015-2016

The rate of tax to be paid under section 37A shall be as follows-

 

Holding Period

  

Tax Year 2016

  

Tax Year 2015
 

Where holding period of a security is less than
twelve months.

  

15%

  

12%
 

Where holding period of a security is twelve
months or more but less than twenty-four
months.

  

12.5%

  

10%
 

Where holding period of a security is twenty four months or more but less than four years

  

7.5%

  

0%
 

Where holding period exceeds four years

 

0%

  

-

 

Pakistan Income Tax Rates 2014-2015 and Deductions

Pakistan Income Tax Rate for Individual Tax Payers

Lowest Individual Tax Rate in Pakistan is 5% and Highest Rate is 30%

 

Net Taxable Income Rs

  

Income Tax Rates
 

up to Rs 4,00,000

  

0%
 

Rs 4,00,000 - Rs 7,50,000

  

5% of amount exceeding Rs 4,00,000
 

Rs 7,50,000 - Rs 14,00,000

  

Rs 17,500+10% of amount exceeding Rs 7,50,000
 

Rs 14,00,000 -Rs 15, 00,000

  

Rs 82,500+12.5% of amount exceeding Rs 14,00,000
 

Rs 15,00,000 - Rs 18,00,000

  

Rs 95,000+15% of amount exceeding Rs 15,00,000
 

Rs 18,00,000 - Rs 25,00,000

  

Rs 1,40,000+17.5% of amount exceeding Rs 18,00,000
 

Rs 25,00,000 - Rs 30,00,000

  

Rs 2,62,500+20% of amount Exceeding Rs 25,00,000
 

Rs 30,00,000 - Rs 35,00,000

  

Rs 3,62,500+22.5% of amount exceeding Rs 30,00,000
 

Rs 35,00,000 - Rs40,00,000

  

Rs 4,75,000+25% of amount exceeding Rs 35,00,000
 

Rs 40,00,000 - Rs 70,00,000

  

Rs 6,00,000+27.5% of amount exceeding Rs 40,00,000
 

Above Rs 70,00,000

 

Rs 14,25,000+30% of amount exceeding Rs 70,00,000

 

Corporate Tax Rates in Pakistan

For tax year 2014 tax rate for companies other than banking companies shall be 34% and for banking companies it will be 35%. Previously, from 1 July 2006 to 30 June 2013, the tax rate for all companies including banking companies was 35%. Small companies may be taxed at a rate of 25%, subject to specified conditions.

Capital Gains Tax in Pakistan

Capital Gain Tax Rate in Pakistan is 17.50% w.e.f 01.07.2014

Pakistan Dates of filing Returns / Reporting and Payment

Financial Year is from 1st July to 30th June.

 

Description

  

Due Date of Filing Tax Return
 

In case of a company (Both for return of income and/or statement of final/fixed tax):

  
  • Whose tax year ends between 1st July and 31st December
  

30th September
  • Whose tax year ends between 1st January and 30th June
 

31st December
 

In case of salaried individual (Both for return of income and/or statement of final/fixed tax only)

  

31st August

In case of other individual and association of persons

  
  • Required to furnish statement of final/fixed tax only
  

31st August
  • Required to furnish statement of final/fixed tax and return of income
  

30th September
  • Required to furnish return of income only
  

30th September

 The Federal Board of Revenue (FBR) decided to further extend filing of Income Tax return date from October 31 to November 21.