Business Tax in Paksitan - Annual Tax Payable

Sole trader / Proprietor or Business Individual The business individual is taxed for the profits only, unless turnover exceed 10 million rupees. In that case 1.25% of total turnover is payable.
Form of Taxation: Application of Slab rates.
Tax Return Filing: Annual income tax returns filing is a requirement.

Partnership Firm: They are taxed for the profits only, unless turnover exceed 10 million rupees. In that case 1.25% of total turnover is payable. While partners are not taxed separately.
Form of Taxation: Slab rates are applied.
Tax Return Filing: For this type, filing of annual income tax returns is a requirement.

Limited Liability Partnership The partnership firm is taxed for the profits only, unless turnover exceed 10 million rupees. In that case 1.25% of total turnover is payable. While partners are not taxed separately.
Form of Taxation: Slab rates are applied.
Tax Return Filing: For this type, filing of annual income tax returns is a requirement.

Private Limited Company The company is taxed at higher of:

1. Taxable income @ below given rates.
2. Turnover @ 1.25%.
3. Profits @ 17%.
4. Shareholders are taxed at 15% on dividends.

Form of Taxation: Small Company: 25%. Other than small company 29%.
Tax Return Filing: For this type, filing of annual income tax returns is a requirement.

Public Limited Company The company is taxed at higher of:

1. Taxable income @ 30%.
2. Turnover @ 1.25%.
3. Profits @ 17%.
4. Shareholders are taxed at 15% on dividends.

Form of Taxation: 29%.
Tax Return Filing: For this type, filing of annual income tax returns is a requirement.

Non-Profit Organization If approved than zero, otherwise taxation of private limited company will be applicable.
Form of Taxation: Exempted, if approved by tax department.
Tax Return Filing: For this type, filing of annual income tax returns is a requirement.

Liaison / Branch Office No tax is applicable.
Form of Taxation: Not applicable as commercial activity is not allowed.
Tax Return Filing: For this type, filing of annual income tax returns is NOT a requirement.

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