Taxation in Pakistan
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Pakistan's Current Taxation system is defined by Income Tax Ordinance 2001, promulgated on 13 September 2001, which became effective from 1 July 2002.
Income Tax Act of 1922Edit
The Income Tax Act of 1929 was prevalent during the British Raj and was inherited by both the governments of India and Pakistan upon independence and partition in 1947. This act initially formed the basis of both country's Income Tax codes.
Income Tax Ordinance (1979)Edit
The Income Tax Ordinance was the first law on Income Tax which was promulgated in Pakistan from 1 July 1979 by the Government of Pakistan.
Income Tax Ordinance 2001Edit
To update the tax laws and bring the country's tax laws into line with international standards, the Income Tax Ordinance 2001 was promulgated on 13 September 2001. It became effective from 1 July 2002.
IT rules 2002Edit
IT (Income Tax) rules 2002 were promulgated by the Federal Board of Revenue (FBR) on 1 July 2002 in exercise its powers granted under section 237 of the Ordinance.
According to the International Development Committee, in 2013 Pakistan had a lower-than-average tax take. Only 0.57% of Pakistanis, or 768,000 people out of a population of 190 million pay income tax.
Federal taxes are administered by the Federal Board of Revenue.
Corporate Income tax rates Corporate Income tax rates are 30% for companies and 35% for Banking Industry for TY 2018 
According to a 2002 study, 99% of 256 respondents reported facing corruption with regard to taxation. Furthermore, 32% of respondents reported paying bribes to have their tax assessment lowered, and nearly 14% reported receiving fictitious tax assessments until a bribe was paid.
- Bahl, R., Wallace, S., & Cyan, M. (2008). Pakistan: Provincial government taxation (No. paper0807). International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
- Horrigan, Kevin (2010-09-26). "Take a lesson from Pakistan: Taxes are for suckers". Saint Louis Post-Dispatch. Retrieved 2010-11-07.
- Abdul Wahid Ahmed _ Faculty at Institute of Business Management _ Ref- ITO 2001 _ Karachi, Pakistan.
- "Nature & Extent of Corruption in the Public Sector" (PDF). Transparency International–Pakistan. 2002. Retrieved 2010-11-07.
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