According to section 115(1) of Income Tax Ordinance 2002, says where the salary/other income for the tax year is Rs50,000 or above, the taxpayer shall file return of income tax electronically in the prescribed form and it shall be accompanied by the proof of deduction of payment of tax and wealth statement. Contrary to this legal requirement, around one and a half percent Pakistanis are registered with tax authorities for National Tax Number and a fraction of them files tax returns. In tax year 2013, approximately 800,000 NTN-holders filed tax returns and half of them reported zero earning, a routine practice to avoid taxes under such pretexts. Included among them are lawmakers, lawyers and top earners in different fields. They are apart from those who don’t even bother to file tax returns, let alone those out of tax net. A close relative of a top tax collector was featured in the FBR’s list of those 3.5 million Pakistanis who are out of tax net. He lives in posh area of Islamabad, frequently travels abroad but doesn’t pay a penny as income tax. thenews.pk/Todays-News-13-33104-Its-official-Even-tax-collectors-dont-pay-tax
Posted on: Thu, 25 Sep 2014 02:35:16 +0000
Trending Topics
Recently Viewed Topics
© 2015