Saturday, 20 April 2024
Trending
Lesco Bill Check Online 2022 | How to Get Lesco Duplicate Bill Online How to Check and Verify Vehicle Ownership | Car Registration Online Check 8009 Nadra family verification system | 8009 Nadra online check | 8009 sms Nadra Apple IPhone XS Max PTA and Import TAX in Pakistan | Non PTA price in Pakistan 1500 Prize Bond Draw List 15 August 2022 How to Check Number of Mobile SIMs Issued Against Your CNIC Prize Bond 750 list 2022 | Prize Bond Schedule 2022 750 Prize Bond List 2022 | Prize Bond Schedule 2022 200 Prize Bond Draw List 2022 15th March 2022 – Prize Bond Draw Schedule Dates and Results 2022 US dollar inflated by 4 paisa The Pakistan Stock Brokers Association is now formally operational FBR tax offices renamed Pakistan's current account balance again remains in surplus FBR issued valuation for sale of used cars for purpose of collecting sales tax. FATF takes up Pakistan case tomorrow How to become active tax filer in FBR Rules amended by FBR: Issued time limit for notifying income tax return form FBR launched Maloomat TaxRayApp: Signed MoU with NADRA: Acquired all data of filers & non-filers Federal Board of Revenue (FBR) ceased manual processing of income tax refunds HEC announces Scholarship Programme 2021 for Bachelors, One-Tier Masters, Masters and PhD studies Karachi Tax Bar Association (KTBA) rejected using mobile phone SMS as a legal way to serve tax notices Who is exempt from filing income tax returns ? Anti money laundering Act: monitoring of Jewelers, real estate agents and accountants under strict regulations Tax amnesty scheme for builders and developers ending at December 31 2020 Retailers registered with FBR started obtaining CNIC of consumers on sales above than Rs100,000 FBR directed to issue income tax exemption certificates against gratuity and provident funds Taxation of Builders and Developers e-payment limit of taxes abolished FBR allowed to registered persons to file non-export refund claims FBR extends scope of sales tax on IT Services and IT Enabled Services IT Exports Increased by 40% Govt imposing additional taxes on cars from next week FBR fired the officer for dishonesty The government will audit the Neelum-Jhelum surcharge collection China-Pakistan Economic Corridor project: Chapter added by FBR in the customs law PTBA highlighted issues in Active Taxpayer List Income Tax Credit Proposed for IT Sector Exceptional Rise of Workers Foreign Remittances in February 2021 Third Schedule Goods for Sales tax Rates Under Sales Tax Act, 1990 Federal Board of Revenue Rejected a News Report Published State Bank of Pakistan launches Five Years Islamic banking plan Federal Board of Revenue alerts Taxpayers about Fake and Harmful Emails Customs field formations to remain open on 8th, 10th & 11th May RS. 1500 Prize Bond Result, 17 May 2021 Announced The Punjab Letters of Administration and Succession Certificates Ordinance 2021 FBR Records historic growth again in May, 18% Growth in 11 Months Budget in front but Pakistan and IMF will discuss taxes next week Today Currency Rates in Pakistan Political parties exempted in Budget from filing income tax returns and paying taxes Intelligence & Investigation Inland Revenue Operation against three unregistered units
Resident-and-non-resident-fbr
TAXATION

Resident and Non Resident status under tax laws of Pakistan

By

Non-resident Pakistani is exempt from payment of taxes, which a resident Pakistani is liable to pay. Prior to the Finance Act 2019, an individual was treated as a “resident individual” for a tax year. If the person was present in Pakistan for a period of 183 days (over six months) or more in a tax year. Now, this period has been reduced to only four months. Which means a person will have to stay abroad for eight months to claim tax-free status.

Resident and Non-Resident Persons Section 81 of the Income Tax Ordinance, 2001

A person shall be a resident person for a tax year if the person is —
(a) a resident individual, resident company or resident association of persons for the year; or
(b) the Federal Government.
(2) A person shall be a non-resident person for a tax year if the person is not a resident person for that year.

Taxation of non-residents, foreign remittances and expatriates under income tax law of Pakistan | ALSO READ

Resident individual Section 82 of the Income Tax Ordinance, 2001

An individual shall be a resident individual for a tax year if the individual —
(a) is present in Pakistan for a period of, or periods amounting in aggregate to, one hundred and eighty-three days or more in the tax year;
(ab) is present in Pakistan for a period of, or periods amounting in aggregate to, one hundred and twenty days or more in the tax year and, in the four years preceding the tax year, has been in Pakistan for a period of, or periods amounting in aggregate to, three hundred and sixty-five days or more;or
(c) is an employee or official of the Federal Government or a Provincial Government posted abroad in the tax year.

See also  Last Date to File Tax Income Return 2023 is ahead

FBR considering proposals to tax benefit to non-resident or overseas Pakistanis | ALSO READ

Resident company Section 83 of the Income Tax Ordinance, 2001

A company shall be a resident company for a tax year if —
(a) incorporated or formed by or under any law in force in Pakistan. (b) the control and management of the affairs of the company is situated wholly in Pakistan at any time in the year; or
(c) it is a Provincial Government or Local Government in Pakistan.

Resident association of persons Section 84 of the Income Tax Ordinance, 2001

An association of persons is a resident association of persons for a tax year. If the control and management of the affairs of the association situated wholly or partly in Pakistan at any time in the year.

Top-Tax-Consultants-Lahore-Pakistan-Global-Tax-Consultants
A d v e r t i s e m e n t

Resident Taxpayer | Non Resident Taxpayer | FBR | Federal Board of Revenue | Foreign Remittances | Foreign Source Income |

LATEST POSTS

TaxUrdu.com

Newsletter
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

[contact-form-7 id="11414" title="Contact form 1"]

Tax.net.pk - Your Tax Experts and Consultants

Welcome to Tax.net.pk

Providing Expert Tax Services for Individuals and Businesses

About Us

At Tax.net.pk, we are dedicated to providing comprehensive tax solutions tailored to meet the needs of individuals and businesses. With years of experience in the industry, our team of tax experts is equipped to handle various tax matters, including tax planning, preparation of tax returns, and compliance.

We strive to stay up-to-date with the latest tax laws and regulations, ensuring that our clients receive accurate and reliable advice. Our commitment to client satisfaction and our in-depth knowledge of the tax landscape make us the trusted choice for all your tax-related needs.

Contact Us

For inquiries or to schedule a consultation, please reach out to us: