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A  taxpayer who fails to pay any tax  (other than the penalty imposed under this section) due under this Ordinance by the due date shall be liable for a penalty equal to – in the case of the first default, five percent of the amount of tax in default; in the case of a second default, an additional penalty of twenty percent of the amount of tax in default; in the case of a third default, an additional penalty of twenty-five percent of the amount of tax in default; and in the case of a fourth and subsequent default, an additional penalty of up to fifty percent of the amount of tax in default as determined by the Commissioner, but the total penalty in respect of the amount of tax in default shall not exceed one hundred percent of such amount of tax. Where, in consequence of any order under this  Ordinance, the amount of tax in respect of which any penalty imposed under subsection (1) is reduced, the amount of the penalty shall be reduced accordingly. Also check: Filer

Pakistan’s Current Taxation system is defined by Income Tax Ordinance 2001, promulgated on 13 September 2001, which became effective from 1 July 2002. Taxes are required to meet the expenditure and spending that a country needs to give out its people. Pakistan operates through hybrid system, Federal Board of Revenue (FBR) collects taxes on goods and the provinces impose on services. Main Concern of Pakistan’s Tax Policy Government collect taxes from its people in order to spend the collection on the welfare and well-being of its people which includes debt servicing, national defense and other welfare related issues. Our current tax collection system has many flaws which comprises of loopholes in the system that go along with the corruption of Federal Board of Revenue (FBR) officers which speaks about the justice and fairness of our government officials for their people. There favors to their delighted people are the major root cause of the corruption that weaken the

Where a  person fails to give notice of the discontinuance of the person‘s business as required under section 117, the Commissioner may impose a penalty on the person not exceeding the amount of tax payable by the person for the tax year in which the business was discontinued. Where a person fails to give notice of the person‘s appointment as liquidator as required under section 141, the Commissioner may impose a penalty on the person not exceeding ten thousand rupees. Penalty  for  obstruction : Where any person obstructs the  Commissioner or a  taxation officer in the discharge of the Commissioner or officer‘s functions under this Ordinance, the Commissioner may impose a penalty on the person not exceeding ten thousand rupees. For More Details visit FBR also view our other blogs