Final Tax Regime and Minimum Tax Chapter- 22
(ii) List the persons who are required to pay minimum tax.
(iii) Discuss the rules relating to carry forward of minimum tax paid to the subsequent years.
Q. NO. 5(b) Spring 2010 Tax imposed at the rate of 15% on every non-resident person who receives
Pakistan source royalty or fee for technical services is considered to be a final taxed.
Required: Identify the exceptions to the above rule, as referred to in the Income tax Ordinance, 2001.
Q. NO. 5(b) Spring 2008 There are various situations in the ITO, 2001 when the rules applicable to
Companies are different from those applicable to other assessees. Briefly discuss the differences in the tax
laws for an Individual and a Company in the following cases:
(i) Dividend income
(ii) Rental income
(iii) Method of accounting
(iv) Payment against sale of goods or services
Q. NO. 4(a) Spring 2006 Under the Income tax Ordinance, 2001, tax imposed on non-residents in respect
of their incomes from Fees for Technical services and royalty shall be a final tax on the amount in respect
of which the tax is imposed.
State under what circumstances, such incomes of a non-resident are not considered to be final tax liability.
Q. NO. 4(c) Autumn 2006 Explain the relevant provisions of Income tax Ordinance, 2001 regarding
applicability of minimum tax.
Q. NO. 11 Autumn 2003 Who are the persons liable to Turnover Tax and at what rate is the turnover tax
payable? Are there any exceptions.
Q.10 Spring 2002 For assessees enjoying resident status, presumptive tax regime is applicable only on
those earning business income. Comment
Q. NO. 5 September 2000 Explain as to how under FTR, tax liability arises for business class of taxpayer.
Q. NO. 6 May1996 What are the provisions regarding the taxability of income of an individual from
dividends etc.
Q. NO. 7 April 1995 State your opinion with reasons about the following issues:
An importer or an exporter has incurred loss on imports and exports. Will there be any incidence of tax on
such persons.