TAX CARD FOR TAX YEAR 2021

TAXATION SERVICES PROVIDER (TSP) UPDATED THROUGH FINANCE ACT 2020

ZIA UDDIN
0345-3141741
www.taxationservices.pk
Tax Rates for Individuals
Salaried Person (Rs) Tax Rates Sale of goods Filer Non- filer
Up to 600,000 0% By company 4% 8%
600,001 to 1200,000 5% exceeding 600,000 By Individual and AOP 4.5% 9%
1200,001 to 1,800,000 30,000 + 10% exceeding 1,200,000 Fast moving consumer goods (FMCG)
1,800,001 to 2,500,000 90,000 + 15% exceeding 1,800,000 By company 2% 4%
2,500,001 to 3,500,000 195,000 + 17.5% exceeding 2,500,000 By Individual and AOP 2.5% 5%
3,500,001 to 5,000,000 370,000 + 20% exceeding 3,500,000 Minimum limit on tax deduction for payments against goods and services Shall be
5,000,001 to 8,000,000 670,000 + 22.5% exceeding 5,000,000 Rs. 75,000/- and Rs. 30,000/- per annum.
8,000,001 to 12,000,000 1,345,000 + 25% exceeding 8,000,000 Services Filer Non- filer
12,000,001 to 30,000,000 2,345,000 + 27.5% exceeding 12,000,000 By company 8% 16%
30,000,001 to 50,000,000 7,295,000 + 30% exceeding 30,000,000 By Individual and AOP 10% 20%
50,000,001 to 75,000,000 13,295,000 + 32.5% exceeding 50,000,000 By export houses for services rendered 1% 2%
Above 75,000,000 21,420,000 + 35% exceeding 75,000,000 Advertisement Services (Electronic/print media) 1.5% 3%
Advertisement Services Other than (Electronic/print media)
Tax Rates for AOPs And Non-Salaried Individuals
Business Income (Rs) Tax Rates Transport services
Up to 400,000 0% Freight forwarding services
400,001 to 600,000 5% exceeding 400,000 Air cargo services
600,001 to 1,200,000 10,000 + 10% exceeding 600,000 Courier services
1,200,001 to 2,400,000 70,000 + 15% exceeding 1,200,000 Manpower outsourcing services
2,400,001 to 3,000,000 250,000 + 20% exceeding 2,400,000 Hotel services
3,000,001 to 4,000,000 370,000 + 25% exceeding 3,000,000 Security guard services
4,000,001 to 6,000,000 620,000 + 30% exceeding 4,000,000 Software development services
Above 6,000,000 1,220,000 + 35% exceeding 6,000,000 IT services and IT enabled services
Tax Rates for rent of immovable property- Individual and AOP's Tracking services 3% 6%
Rental Income (Rs) Tax Rates Share registered services
Up to 200,000 0% Engineering services
200,001 to 600,000 5% exceeding 200,000 Car rental services
600,001 to 1,000,000 20,000+ 10% exceeding 600,000 Building maintenance services
1,000,001 to 2,000,000 60,000 + 15% exceeding 1,000,000 Inspection services
2,000,001 to 4,000,000 210,000+ 20% exceeding 2,000,000 Certification services

Above 8,000,000
TAXATION SERVICES PROVIDER
4,000,001 to 6,000,000
6,000,001 to 8,000,000
610,000+ 25% exceeding 4,000,000
1,110,000+ 30% exceeding 6,000,000
1,710,000+ 35% exceeding 8,000,000
Tax Rates for rent of immovable property-Companies
Testing services
Training services
Warehouse services
Asset management services
15% of gross rent Data services under license issued by (PTA)
Other important tax rates Telecommunication Infrastructure (tower) services
Companies- General Tax Rates Contracts Filer Non- filer
Small Company 22% By Company 7% 14%
Banking Company 35% By Individual and AOP 7.5% 15%
All other Companies 29% Brokerage and Commission Filer Non- filer
Alternate Corporate Tax (ACT) 17% Advertisement agents 10% 20%
Minimum Turnover Tax 1.50% Life insurance agents (Less than 0.5 M) 8% 16%
Super Tax Tax Rates Other cases 12% 24%
Banking Company 4% Tax at Import stage Filer Non- filer
Other persons 0% Persons importing goods classified in Part I of the Twelfth 1% 2%
Schedule
Tax on sale- specified sector Filer Non- filer Persons importing goods classified in Part II of the Twelfth 2% 4%
Schedule
Sale to distributors, dealers and wholesalers 0.1% 0.2% Persons importing goods classified in Part III of the Twelfth 5.5% 11%
Schedule
Tax on sale to retailers- Electronics 1% 2% Profit on debt Filer Non- filer
Tax on sale to retailers- Others 0.5% 1% Up to 5 M 15% 15%
Gain on immovable property From 5 M TO 25 M 17.5% 17.5%
Immovable Property From 25 M TO 36 M 20% 20%
Sold within 1 year 100% taxable Above 36 M Normal tax regime
Sold after 1 year but not exceeding 2 years of purchase Dividend Filer Non- filer
75% taxable

Sold after 2 year but not exceeding 3 years of purchase Received from mutual funds & others 15% 30%
50% taxable

Sold after 3 year but not exceeding 4 years of purchase Received from companies 25% 50%
25% taxable

Sold after 4 year of purchase 0% RETURN ON INVESTMENT IN SUKUKS Filer Non- filer
Filer Non- filer Received by an individual or an AOP, if the profit is less than 10% 20%
Rs. 1 Million
Purchase of air ticket- domestic 5% 5% Received by an individual or an AOP, if the profit is more than 12.5% 25%
Rs. 1 Million
Purchase of air ticket- international Received by company 25% 50%
Economy class 0% Immovable Property Filer Non- filer
Executive/ first class Rs 16,000 per person Advance tax on buyer 1% 2%
Other excluding economy Rs 12,000 per person Advance tax on seller holding period within 4 years 1% 2%
CNG business 4% 8% Advance tax on seller holding period after 4 years 0%
General Insurance premium 0% 0% Advance tax on sale by auctions Filer Non- filer
Life Insurance premium over 0.3 M 0% 0% Advance tax on sales immovable property by auction 5% 10%
Offshore digital services from non-resident 5% 10% Advance tax on sales other than immovable property by 10% 20%
auction
Royalty and technical services (Resident) 15% 30% On function and gatherings 0% 0%
Royalty and technical services (Non-Resident) 15% 15% Charge by local educational institutions 0% 5%
On prize bonds 15% 30% Charge by foreign educational institutions 0% 0%