It is no secret that taxation in Pakistan is a joke. Only 0.57% of the population pay taxes. That’s 768,000 out of 190 million.
However, the first step to a solution is spreading information. That’s exactly what ‘Tax Assistant Pakistan’ does. A new app for Android smartphones, it can quickly tell you how much income tax you owe per year. Once people see what their tax amounts are, the hope is that they’ll start filing them.
The app provides two options. One simply tells you what your tax is based on your salary while the other is much more detailed and takes into account various sources like rent, capital gains, deductible allowances and others.
There are two versions of the app. The free is supported by ads while the paid one costs PKR 105 and has the ability to save your data while also being ad-free.
Here’s a rundown of the features offered by Tax Assistant Pakistan.
- Taxation updated for the current tax year 2015 (ending 30th June 2015)
- Simple tax calculator to calculate tax liability based on salary only
- Tax assistant for comprehensive tax working
- Income from salary (taxable, partially exempt and fully exempt)
- Rental income and expenses
- Capital gains on securities for different holding periods
- Capital gains on immovable property for different holding periods
- Income from dividend
- Income from interest / profit on debt
- Income from prize bonds, crosswords, and sales promotion gifts
- Income from bonus shares
- Deductible allowances: zakat and charitable donations
- Tax credit on investment in mutual funds, new shares, insurance premium and pension funds
- Tax reduction for teachers, researchers and senior citizens
- Tax already paid: employer deduction or rental income
- Advance tax deducted: mobile phone bills, cash withdrawal, motor vehicles, educational fees etc
- Easy to understand income tax summary is generated
Features in Pro Version:
- No Ads
- All tax data entered in ‘Assistant’ is automatically saved even if you close the app