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Withholding Taxes in Pakistan: Why it is Important to Educate Yourself, and how can You get a refund on your paid Withholding Tax Money?
The word Withholding means “refusal to give something that is due or desired”. So, in this context of Tax, it becomes Withholding Tax which means “to intentionally deduct the tax which can be claimed and/or refunded later”. ,For tax purposes “Withholding tax is deduction or collection of tax at source, which has generally been in […]Read more
Implications of Finance (Supplementary) Bill 2021; Get to know which commodities are going to get costlier!
The Finance (Supplementary) bill 2021 is aimed at meeting the IMF’s conditions on getting clearance of Pakistan’s sixth review of $6Bn extended loan for clearing the way for payment of $1Bn loan portion. Several amendments have been proposed in the bill relating to Income Tax, Sales Tax, Custom Duties and Federal Excise Duty. The proposed […]Read more
Tax Credit and Deductible Allowances: How can you Pay Less in Taxes and Save More?
You may have been burdened by a load of taxes or paying a heavy amount of money in taxes for a long time. We all have heard about the above-mentioned tax terms once. We may even get confused about their benefits, compliance, and application. Well, there is no rocket science involved in understanding these terms […]Read more