Paying Taxes in Karachi, Pakistan

The table below addresses the taxes that a medium-size company must pay or withhold in a given year in Karachi, Pakistan, as well as measures of administrative burden in paying taxes.
Tax Payments (number) Time (hours) Statutory tax rate Tax base Total tax rate (% profit)
Corporate income tax 5 40 37% taxable income 27.0
VAT (General Sales Tax) 12 480 15.0% value added 45.4 b)
Professional Tax 1 - a) fixed fee (PRK 10,000) 0.6
Property tax 1 - a) 18% (including 10% discount) annual rental value of property 0.9
Vehicle tax 1 - a) fixed fee 0.3
Pension contributions 12 - a) 5% up to PKR 150 per employee and per month number of employees 5.5
Social security contributions 12 40 7% gross salaries 8.1
Tax on interest 1 - a) 10% interest income 0.2 d)
stamp duty 1 - slab rate based on contract value - - c)
Education cess 1 - a) PKR 25 per month per employee number of employees 1.0
Totals: 47 560 89

Notes:

a) data not collected
b) VAT is not included in the total tax rate because it is a tax levied on consumers
c) very small amount
d) included in other taxes
e) Withheld tax
f) electronic filling available
g) paid jointly with another tax

Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.

When there is more than one statutory tax rate, the one applicable to TaxpayerCo is reported.

The hours for VAT include all the VAT and sales taxes applicable

The hours for Social Security include all the hours for labor taxes in general