Benefits Of Being A Withholding Tax Filer In Pakistan
You are still a non-filler– It's time to do it right away here at Taxconsultancy. pk. Do you know? Taxpayers in Pakistan enjoy all the benefits and get relief on taxes as compared to nonfilers. Withholding Tax is an advance payment of income tax. Furthermore, here is a list of benefits of being a tax filer in Pakistan.
- Taxpayers are only required to pay half of the withholding tax in comparison to the tax paid by the non-filers.
- A non-filer is barred from owning property worth over PKR 50 lakh whereas people who regularly file tax returns can purchase any property.
- Non-filer importers of raw material would have to pay 8% on the total import whereas taxpayer importers are required to pay 5.5% on raw material imports.
- People who regularly file withholding tax returns have to pay only 1% on property transfer tax against 2% tax paid by property owners who are non-filers.
- Whether it’s the auctioning by the government or any other private entity, tax filers pay only 10% tax against 15% tax paid by non-filers in Pakistan.
