Which authority is responsible for tax collection in Pakistan?
a) Pakistan Bureau of Statistics
b) State Bank of Pakistan
c) Federal Board of Revenue (FBR)
d) Ministry of Finance
Which type of tax is directly paid by an individual or business to the government?
a) Direct Tax
b) Indirect Tax
c) Sales Tax
d) Excise Duty
Which of the following is an example of an indirect tax?
a) Income Tax
b) Wealth Tax
c) Sales Tax
d) Property Tax
What is the standard rate of General Sales Tax (GST) in Pakistan as of recent years?
a) 10%
b) 15%
c) 17%
d) 20%
Which tax is imposed on the income of individuals and businesses?
a) Property Tax
b) Income Tax
c) Sales Tax
d) Customs Duty
In Pakistan, which tax is applied on imported goods?
a) Sales Tax
b) Customs Duty
c) Excise Duty
d) Capital Gains Tax
Which tax is imposed on the profit earned from selling property or shares?
a) Capital Gains Tax
b) Property Tax
c) Sales Tax
d) Turnover Tax
What is the tax-free income threshold for salaried individuals in Pakistan as per recent tax regulations?
a) PKR 400,000
b) PKR 600,000
c) PKR 1,200,000
d) PKR 2,500,000
Which document must individuals and businesses file annually with the FBR?
a) Balance Sheet
b) Tax Return
c) Import Declaration
d) Income Statement
Which tax is deducted by employers from employees’ salaries before payment?
a) Withholding Tax
b) Excise Duty
c) Turnover Tax
d) Customs Duty
Which tax is applied to goods considered harmful, such as tobacco and alcohol?
a) Sales Tax
b) Excise Duty
c) Capital Gains Tax
d) Property Tax
What is the purpose of the National Tax Number (NTN) in Pakistan?
a) To track bank transactions
b) To register for income tax
c) To register a business
d) To apply for a visa
Which tax is imposed on the value of inherited property?
a) Wealth Tax
b) Capital Gains Tax
c) Inheritance Tax
d) Gift Tax
Which of the following is NOT a direct tax?
a) Income Tax
b) Property Tax
c) Sales Tax
d) Corporate Tax
Who is required to file tax returns in Pakistan?
a) Only salaried individuals
b) Only business owners
c) Every taxpayer earning above the exemption limit
d) Only foreign investors
Which of the following is a provincial tax in Pakistan?
a) Income Tax
b) Sales Tax on Services
c) Customs Duty
d) Capital Gains Tax
What is the primary purpose of taxation?
a) To increase bank deposits
b) To control inflation
c) To generate revenue for government expenditures
d) To support large corporations
What is the penalty for not filing a tax return on time in Pakistan?
a) Heavy fine and possible legal action
b) Immediate arrest
c) Blacklisting from bank services
d) No penalty
Which tax is imposed on luxury goods and services?
a) Corporate Tax
b) Wealth Tax
c) Excise Duty
d) Capital Gains Tax
Which authority sets tax policies in Pakistan?
a) Pakistan Tax Authority
b) Federal Board of Revenue (FBR)
c) Ministry of Interior
d) Securities and Exchange Commission of Pakistan (SECP)
What is the tax on foreign remittances in Pakistan?
a) 1%
b) 2%
c) 5%
d) Exempted
Which sector is subject to agricultural tax in Pakistan?
a) Industrial sector
b) Real estate sector
c) Farming sector
d) Banking sector
Which of the following transactions is subject to withholding tax?
a) Bank withdrawals above a certain limit
b) Purchase of groceries
c) Selling a personal vehicle
d) Foreign remittances
Which tax is levied on businesses based on total turnover?
a) Income Tax
b) Corporate Tax
c) Turnover Tax
d) Excise Duty
Which financial institution monitors tax compliance in Pakistan?
a) State Bank of Pakistan
b) Federal Board of Revenue (FBR)
c) Securities and Exchange Commission of Pakistan (SECP)
d) Ministry of Commerce
What is the deadline for filing annual income tax returns in Pakistan?
a) 30th June
b) 31st December
c) 30th September
d) 15th August
Which of the following individuals is exempt from income tax in Pakistan?
a) Government employees
b) People earning below the taxable limit
c) Foreign workers
d) Business owners
Which tax is imposed on motor vehicles in Pakistan?
a) Sales Tax
b) Excise Tax
c) Motor Vehicle Tax
d) Property Tax
