What does FBR stand for in Pakistan?
a) Federal Bureau of Revenue
b) Federal Board of Revenue
c) Federal Business Regulation
d) Federal Banking Revenue
What is the primary purpose of the Federal Board of Revenue (FBR) in Pakistan?
a) Regulating business policies
b) Collecting taxes and enforcing tax laws
c) Controlling the stock market
d) Setting interest rates
Which of the following is NOT a type of tax levied by the FBR in Pakistan?
a) Income tax
b) Sales tax
c) Property tax
d) Value-added tax
What is the primary source of revenue for the Government of Pakistan?
a) Sales tax
b) Foreign aid
c) Income tax and sales tax
d) Petroleum exports
What tax is imposed on the income earned by individuals in Pakistan?
a) Wealth tax
b) Sales tax
c) Income tax
d) Capital gains tax
Which of the following is true about the General Sales Tax (GST) in Pakistan?
a) GST is levied only on export goods
b) GST is a direct tax
c) GST is a consumption-based tax
d) GST applies only to the agricultural sector
Which type of tax is collected from the value added at each stage of production and distribution?
a) Income tax
b) Sales tax
c) Excise duty
d) Custom duty
What is the tax rate on salaried individuals in Pakistan determined by?
a) The value of assets
b) The income tax slab
c) The business sector
d) The industry in which the person works
Which of the following taxes is imposed on goods imported into Pakistan?
a) Excise duty
b) Customs duty
c) Value-added tax
d) Inheritance tax
Which is a key function of the Federal Board of Revenue (FBR)?
a) Promoting foreign investment
b) Setting interest rates for the banking sector
c) Administering the collection of taxes and duties
d) Issuing government bonds
What is the rate of Income Tax on the highest income tax bracket in Pakistan?
a) 10%
b) 25%
c) 35%
d) 45%
Which of the following taxes is levied by FBR at the time of a sale transaction?
a) Income tax
b) Sales tax
c) Custom duty
d) Inheritance tax
What is the purpose of the Pakistan Revenue Automation (PRA) system?
a) To reduce export tariffs
b) To automate the revenue collection process
c) To create economic development plans
d) To enhance foreign policy strategies
Which of the following is an indirect tax in Pakistan?
a) Income tax
b) Corporate tax
c) Sales tax
d) Inheritance tax
What tax policy does the FBR adopt to encourage tax compliance?
a) Progressive taxation
b) Regressive taxation
c) Flat tax rate
d) Subsidies for tax avoidance
Which tax is imposed on profits made from the sale of capital assets?
a) Income tax
b) Corporate tax
c) Capital gains tax
d) Sales tax
Which of the following is a significant challenge faced by the FBR in tax collection?
a) High levels of tax compliance
b) Tax evasion and avoidance
c) Excessive foreign aid
d) Declining government expenditures
What is the Income Tax Ordinance, 2001?
a) A set of laws related to the taxation of foreign investments
b) A regulation for the taxation of individuals and businesses in Pakistan
c) A tax imposed on agriculture products
d) A law that sets tariffs on imported goods
Which of the following taxes is NOT collected by the FBR?
a) Income tax
b) Property tax
c) Sales tax
d) Customs duty
What is the FBR’s role in relation to tax exemptions?
a) To exempt taxes on agricultural products
b) To enforce exemptions as per tax policies
c) To provide exemptions to specific industries
d) To decide on tax exemption laws and policies
What is the main purpose of withholding tax in Pakistan?
a) To increase the income tax rate
b) To collect taxes in advance from individuals and businesses
c) To reduce the government’s financial burden
d) To impose taxes on exports
How does FBR encourage voluntary tax compliance?
a) By imposing strict penalties
b) By offering tax credits and exemptions
c) By offering low-income tax brackets
d) By providing financial incentives to businesses
What is the key focus of the FBR’s tax reforms?
a) Increasing tariffs on imports
b) Simplifying tax laws and enhancing transparency
c) Reducing the tax rates on corporate profits
d) Encouraging illegal tax evasion strategies
Which of the following is a direct tax?
a) Sales tax
b) Income tax
c) Excise duty
d) Custom duties
Which document is required for individuals and businesses to file taxes with FBR?
a) Tax exemption certificate
b) Taxpayer Identification Number (TIN)
c) Sales receipt
d) Export permit
What is the purpose of the FBR’s tax audits?
a) To discourage tax compliance
b) To ensure tax laws are followed and prevent evasion
c) To collect additional taxes from large companies
d) To promote financial investment strategies
Which of the following taxes is NOT part of Pakistan’s FBR tax system?
a) Corporate tax
b) Inheritance tax
c) Sales tax
d) Excise duty
Which tax is commonly paid by companies on their net profits in Pakistan?
a) Income tax
b) Sales tax
c) Corporate tax
d) Customs duty
How does the FBR primarily aim to address the issue of tax evasion?
a) By simplifying tax filing processes
b) By increasing tax rates on the wealthy
c) By offering tax incentives to businesses
d) By implementing strict monitoring and penalties
What is one of the main features of the taxation system in Pakistan?
a) Tax exemption for all foreign investments
b) Progressive income tax rates for individuals
c) Flat-rate sales tax across all sectors
d) No tax on agricultural products
Which of the following is a common method used to assess taxes in Pakistan?
a) Random selection of taxpayers
b) Use of automated digital systems for tax returns
c) Strict personal investigations of businesses
d) International audits
What is the FBR’s approach to tax education for citizens?
a) Tax evasion campaigns
b) Tax seminars and awareness programs
c) Financial assistance for tax defaulters
d) Compulsory tax compliance workshops
