top of page

Pakistan

Delivery:

Price: $

Payment methods:

payment methods.webp
UK comapny formation (1).webp

About

Pakistan

Capital
Official languages
Population 
Currency

ISO 4217

Islamabad

Urdu and English

212,228,286 (as of July 2020)

Pakistani Rupee

PKR

Document checklist:

Process

Economy

"Pakistan's economy has been steadily growing over the past few years. According to the World Bank, the country's GDP grew by 3.3% in 2019, and is projected to grow by 2.7% in 2020. The country's inflation rate has also been relatively low, averaging around 8.2% in 2019.

The country's unemployment rate has been steadily decreasing, from 6.2% in 2018 to 5.8% in 2019. This is largely due to the government's efforts to create more jobs and reduce poverty.

Pakistan's exports have also been increasing, with exports reaching $25.2 billion in 2019. This is largely due to the country's strong agricultural sector, which accounts for around 21% of the country's GDP.

Overall, Pakistan's economy is showing signs of improvement, and the country is on track to become a major player in the global economy."

Taxation

Taxation in Pakistan includes various taxes levied by the federal and provincial governments on individuals and businesses. The taxes can be categorized into direct taxes, such as income tax, and indirect taxes, such as sales tax and excise duty. Here's an overview of the taxation system in Pakistan:


Corporate Tax:

- The standard corporate tax rate in Pakistan is 29%. However, companies in certain sectors may be eligible for lower tax rates.

- Companies are required to file their tax returns annually by September 30th.

- Advance tax is also required to be paid on a quarterly basis.


Personal Tax:

- The personal income tax in Pakistan is levied on a progressive scale ranging from 0% to 30%.

- The tax year in Pakistan starts from July 1st and ends on June 30th of the following year.

- Individuals are required to file their tax returns by September 30th.


Sales Tax:

- The standard sales tax rate in Pakistan is 17%.

- Businesses are required to register for sales tax and file their returns monthly.


Excise Duty:

- Excise duty is levied on goods such as petroleum products, cigarettes, and luxury items.

- The rates of excise duty vary depending on the type of goods.


Tax Payment Process:

- Tax payments can be made online through the FBR (Federal Board of Revenue) e-payment system or through designated banks.

- Taxpayers are required to obtain a National Tax Number (NTN) or a Sales Tax Registration Number (STRN) to pay taxes.

- Penalties are imposed for late filing of tax returns or non-payment of taxes.


It's important to note that the tax system in Pakistan is complex and subject to frequent changes. It is recommended that individuals and businesses seek professional advice to ensure compliance with tax laws and regulations.

Company incorporation application form

Representative

Chosen company name

Main business activity

Legal address of director

Extra services

Submit ✉

Your inquiry has been submitted. Thank You!

We will contact you shortly…

PDF application form

B2B hub provides fillable PDF application forms, you can simply save the filled form and send us by email clicking here  reg@b2bhub.uk or live chat

bottom of page