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Imran Khan’s income tax registers average decrease of 89pc each year

yes there is Agri tax, collected by Provincial Governments, but its not assumed as Income tax!
secondly every person having Income , more than Rs:400000/-per annum generated by any source is exempted from tax.

so if some one makes Rs:800,000 do they only pay tax on Rs:400,000 and the rest is tax free?

IK and his cartoon worshippers :hitwall:

People, I pay more tax in a month than IK paid in the whole year; and there is no way that I could afford to live like he does. The man is a chor! And you are idiots for believing his cr@p.

Similarly, seems that I'm significantly richer than our PM :chilli:even though I probably can't even afford the watch that he wears :rofl:


Please explain how is IK a chor?
 
First few years he paid large amounts because he was planning to use that against other politician, but now he sees its not working.
 
I am sick and tired of these discussions "because X did not pay the tax, Y should also not pay".

F* that and get every tax chor in the country. The process must start from the very top, i.e. from our so called "servant" Nawaz Sharif and his family. He is now third time prime minister, if he has nothing to hide, he should not fear anything. He must make it transparent:

1) What moveable and non-moveable assets he and his family owns?
2) What is his and his family's source of income?
3) How much tax he and his family has paid since 1980?
4) How much money he sent outside Pakistan and did he follow the law and regulations for all the money that he sent outside Pakistan?


Just answer these questions and let the independent insitutions verifiy those answers. If you come out clean, you'll have my vote next time. If you have not done anything wrong, you should not worry about anything.
 
As a tax consultant, i dont found any thing wrong in the Returns of Imran khan, or Nawaz Sharif as
so if some one makes Rs:800,000 do they only pay tax on Rs:400,000 and the rest is tax free?




Please explain how is IK a chor?

see the chart below.

    1. Where the taxable income exceeds Rs 400,000 but does not exceed Rs 500,000, the rate of income tax is 2% of the amount exceeding Rs 400,000.
    2. Where the taxable income exceeds Rs 500,000 but does not exceed Rs 750,000, the rate of income tax is Rs. 2,000 + 5% of the amount exceeding Rs 500,000.
    3. Where the taxable income exceeds Rs 750,000 but does not exceed Rs 1,400,000,the rate of income tax is Rs 14,500 + 10% of the amount exceeding Rs 750,000.
    4. Where the taxable income exceeds Rs 1,400,000 but does not exceed Rs 1,500,000, the rate of income tax is Rs 79,500 + 12.5% of the amount exceeding Rs 1,400,000.
    5. Where the taxable income exceeds Rs 1,500,000 but does not exceed Rs 1,800,000, the rate of income tax is Rs 92,000 + 15% of the amount exceeding Rs 1,500,000.
    6. Where the taxable income exceeds Rs 1,800,000 but does not exceed Rs 2,500,000, rate of tax is Rs 137,000 + 17.5% of the amount exceeding Rs 1,800,000.
    7. Where the taxable income exceeds Rs 2,500,000 but does not exceed Rs 3,000,000, the rate of income tax is Rs 259,500 + 20% of the amount exceeding Rs 2,500,000.
    8. Where the taxable income exceeds Rs 3,000,000 but does not exceed Rs 3,500,000, the rate of income tax is Rs 359,500 + 22.5% of the amount exceeding Rs 3,000,000.
    9. Where the taxable income exceeds Rs 3,500,000 but does not exceed Rs 4,000,000, the rate of income tax is Rs 472,000 + 25% of the amount exceeding Rs 3,500,000.
    10. Where the taxable income exceeds Rs 4,000,000 but does not exceed Rs 7,000,000, the rate of income tax is Rs 597,000 + 27.5% of the amount exceeding Rs 4,000,000.

  1. So if some one income is Rs:800000/- he fall in point 3. and have to pay Rs:14500/- and Rs:5000/- Total :19500/-
 
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Imran’s income tax registers average decrease of 89pc each year
Home / Today's Paper / National / Imran’s income tax registers average decrease of 89pc each year
By Umar Cheema
September 11, 2016
Print : National

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ISLAMABAD: Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan’s income tax is decreasing by average 89% each year without registering any decline in his annual income that, tax return shows, mostly comes from abroad and agricultural sources, analysis of his six-year taxes indicate.

A paltry amount of Rs76,244 income tax for the year 2015 raised eye-brows and left public at large wondering how Khan manages his living style and palatial residence in Islamabad and Lahore in an income drawing this little amount of tax. In 2014, he paid Rs218,237.

Upon inquiry, PTI Secretary Information, Naeemul Haq, explained that the party chairman had paid Rs550,000 tax on agricultural income, a source of earning largely declared by the rich to hide undeclared earning.

That may not necessarily be true in Khan’s case; nevertheless, the fact remains that this modus operandi is frequented by the fat cats in a country where one percent of population is in the tax net.

His biggest financial supply line is foreign earning. The PTI chairman received around Rs10 million (precisely Rs9,815,000) from abroad during July 2014-June 2015, according to his tax return shared with The News by the party’s spokesman.

What is the source of foreign income? He writes articles and sometimes does paid commentary on cricket matches, argues Naeemul Haq.

This explanation is in contrast with domestic politics that has kept Khan intensely busy since his famous gathering in Lahore on October 30, 2011. He remained engaged in election campaign and later into agitation rallies and dharna politics consuming a lot of energy and time with little to no space for foreign earning.

His third source of income is salary that he probably draws from the party. It has been declared Rs1,331,622 in the return filed for the year 2015 out of which Rs410,000 is tax-exempted.

His tax consultant is presently in Saudi Arabia for performing Hajj, said Naeemul Haq, and will answer all questions upon return. Questions have not been raised for the first time.

When Khan was confronted about his tax issues during dharna days, he had promised to answer these questions during his speech at the container where nobody had the opportunity to counter question. Even the dharna ended without hearing on this count from him, so the questions are still unanswered.

Khan’s tax returns have not evoked unwanted attention for the first time. If the last four years are taken into consideration, the PTI chief paid the highest tax in 2010 on an income that was the lowest in comparison with the following three years.

While he registered a handsome increase in earnings from 2011-13, it was accompanied with an 80 percent decrease in tax as the business income used to be declared earlier was largely replaced with agriculture and services (outside Pakistan) income.

Another major shift was noted in terms of his changing priorities with regard to the parking of cash. In the beginning, he would keep it at bank and gradually started stashing it elsewhere.

Khan had the maximum cash (Rs6.2 million) in bank account by 2010 when he paid the highest amount of tax i.e. Rs1.8 million over an income of Rs10.6 million.

This contrasted with the minimum bank balance of Rs362,069 in 2011 when he registered the earning of Rs23.50 million, the highest in four years. It accompanied by a drastic cut in his tax as he paid Rs322,110 that year.

In yet another instance, a major difference in tax amount was noted despite the fact that there was a minor variation in the annual income of two separate years.

Apparently, there is 17.34 percent difference in the income that Khan reported in 2010 and 2013 but intriguingly a variation of 83.50 percent in the tax amount has been recorded in the corresponding years.

Khan paid Rs1.85 million tax over the declared income of Rs10.63 million in 2010 whereas his tax drastically reduced (Rs194,936) over relatively bigger income (Rs12.32 million) in 2013.

How did this major cut occur in the tax amount? Khan had declared a sum of Rs8.2 million as income generated through business in 2010 financial year that caused him heavy taxation.

The following year, business income was reduced to Rs546,620 whereas agricultural income and foreign remittances registered an increase. Business income has disappeared, as there is no mention of it in the tax returns of 2012 and 2013.

He paid the highest tax in 2010 of Rs1.85 million over an income of Rs10.63 million generated through business, profit on debt, agriculture, services (outside Pakistan) and property rent. By the close of that financial year, he had almost an equal amount of cash-in-hand (Rs6.8 million) and at bank (Rs6.2 million) each.

The year 2011 noticed the highest earning with Rs23.5 million that was 54 percent more than the previous year. However, tax deduction was 83 percent less than 2010 as he paid only Rs322,110.

The types of earnings mentioned noticed a negligible amount of business income (Rs546,620) and a major increase in agriculture income (from Rs750,000 in 2010 to Rs2.3 million in 2011).

Foreign remittances (charges of the services he offers abroad) jumped from Rs1.1 million in 2010 to Rs19.7 million in 2011. Property rent was also doubled during that financial. This huge outflow of income notwithstanding money in bank at the close of financial year was Rs576,000 that contrasted with Rs1.1 million cash-in-hand.

In 2012, Khan’s declared income was Rs16.1 million and tax paid on it was Rs273,339. A significant change during this year was the absence of any business income.

Profit on debt, agriculture, services (outside Pakistan) and property rent was declared as the source of income. Another noticeable development was an increase of cash in hand that was Rs12.1 million whereas the cash at the bank was Rs2.1million.

He declared Rs12.3 million income in 2013 and paid only Rs194,936 tax on it. Most of the income declared was from agriculture and services (outside Pakistan). That year saw the declaration of the highest amount of cash in hand (Rs13.61 million) whereas Rs381,765 was in bank at the closing of that financial year.

imran khan is poorer ??
 
As a tax consultant, i dont found any thing wrong in the Returns of Imran khan, or Nawaz Sharif as


see the chart below.

    1. Where the taxable income exceeds Rs 400,000 but does not exceed Rs 500,000, the rate of income tax is 2% of the amount exceeding Rs 400,000.
    2. Where the taxable income exceeds Rs 500,000 but does not exceed Rs 750,000, the rate of income tax is Rs. 2,000 + 5% of the amount exceeding Rs 500,000.
    3. Where the taxable income exceeds Rs 750,000 but does not exceed Rs 1,400,000,the rate of income tax is Rs 14,500 + 10% of the amount exceeding Rs 750,000.
    4. Where the taxable income exceeds Rs 1,400,000 but does not exceed Rs 1,500,000, the rate of income tax is Rs 79,500 + 12.5% of the amount exceeding Rs 1,400,000.
    5. Where the taxable income exceeds Rs 1,500,000 but does not exceed Rs 1,800,000, the rate of income tax is Rs 92,000 + 15% of the amount exceeding Rs 1,500,000.
    6. Where the taxable income exceeds Rs 1,800,000 but does not exceed Rs 2,500,000, rate of tax is Rs 137,000 + 17.5% of the amount exceeding Rs 1,800,000.
    7. Where the taxable income exceeds Rs 2,500,000 but does not exceed Rs 3,000,000, the rate of income tax is Rs 259,500 + 20% of the amount exceeding Rs 2,500,000.
    8. Where the taxable income exceeds Rs 3,000,000 but does not exceed Rs 3,500,000, the rate of income tax is Rs 359,500 + 22.5% of the amount exceeding Rs 3,000,000.
    9. Where the taxable income exceeds Rs 3,500,000 but does not exceed Rs 4,000,000, the rate of income tax is Rs 472,000 + 25% of the amount exceeding Rs 3,500,000.
    10. Where the taxable income exceeds Rs 4,000,000 but does not exceed Rs 7,000,000, the rate of income tax is Rs 597,000 + 27.5% of the amount exceeding Rs 4,000,000.

  1. So if some one income is Rs:800000/- he fall in point 3. and have to pay Rs:14500/- and Rs:80000/- Total :94500/-

If he makes Rs 800000 then according the chart he pays Rs14500+Rs5000(10% of Rs50000)=Rs19500.. That is about 3% of his total income. That is very low in my opinion. In India we pay about Rs 85,000 tax for the same income.
 
If he makes Rs 800000 then according the chart he pays Rs14500+Rs5000(10% of Rs50000)=Rs19500.. That is about 3% of his total income. That is very low in my opinion. In India we pay about Rs 85,000 tax for the same income.

yes in Pakistan Income tax rates are very low, secondly that 19500/- also adjustable with WHT we paid against Electric Bills, Telephone Bills, and Cell Phone bills.
 
such indirect tax is unfair for poor.... plus you got too many tax slabs... they should reform it and reduce it to 3 or 4.

Brother,

WHT tax is always collected by those who not have to pay any tax, and its the tax, but in Pakistan from last 67 years, we not enforce the Income tax as such, and just depending upon Withholding Taxes.
 
because he divorce frequently so his ex wives take his wealth :lol:

Your beloved SS has married and divorced more than IK,

How does IK pay for his millionaire lifestyle? How much did he officially earn last year?

These are the same questions people ask nawaz sharif.

what are you on? millionaire lifestyle?.... he freakin wears the same clothes all the time, doesn't go on shopping spree for a rolex like people that are pretending to be having a heart surgery.

Did you deliberately avoid reading that part of how much tax he paid on his agri income?

yes in Pakistan Income tax rates are very low, secondly that 19500/- also adjustable with WHT we paid against Electric Bills, Telephone Bills, and Cell Phone bills.

With such less rates and still majority Pakistanis don't pay taxes

As a tax consultant, i dont found any thing wrong in the Returns of Imran khan, or Nawaz Sharif as


see the chart below.

    1. Where the taxable income exceeds Rs 400,000 but does not exceed Rs 500,000, the rate of income tax is 2% of the amount exceeding Rs 400,000.
    2. Where the taxable income exceeds Rs 500,000 but does not exceed Rs 750,000, the rate of income tax is Rs. 2,000 + 5% of the amount exceeding Rs 500,000.
    3. Where the taxable income exceeds Rs 750,000 but does not exceed Rs 1,400,000,the rate of income tax is Rs 14,500 + 10% of the amount exceeding Rs 750,000.
    4. Where the taxable income exceeds Rs 1,400,000 but does not exceed Rs 1,500,000, the rate of income tax is Rs 79,500 + 12.5% of the amount exceeding Rs 1,400,000.
    5. Where the taxable income exceeds Rs 1,500,000 but does not exceed Rs 1,800,000, the rate of income tax is Rs 92,000 + 15% of the amount exceeding Rs 1,500,000.
    6. Where the taxable income exceeds Rs 1,800,000 but does not exceed Rs 2,500,000, rate of tax is Rs 137,000 + 17.5% of the amount exceeding Rs 1,800,000.
    7. Where the taxable income exceeds Rs 2,500,000 but does not exceed Rs 3,000,000, the rate of income tax is Rs 259,500 + 20% of the amount exceeding Rs 2,500,000.
    8. Where the taxable income exceeds Rs 3,000,000 but does not exceed Rs 3,500,000, the rate of income tax is Rs 359,500 + 22.5% of the amount exceeding Rs 3,000,000.
    9. Where the taxable income exceeds Rs 3,500,000 but does not exceed Rs 4,000,000, the rate of income tax is Rs 472,000 + 25% of the amount exceeding Rs 3,500,000.
    10. Where the taxable income exceeds Rs 4,000,000 but does not exceed Rs 7,000,000, the rate of income tax is Rs 597,000 + 27.5% of the amount exceeding Rs 4,000,000.

  1. So if some one income is Rs:800000/- he fall in point 3. and have to pay Rs:14500/- and Rs:5000/- Total :19500/-

Thanks for explaining mate :)
 
Imran does not have a billion dollars in assets out of pakistan with no trace of how the money was eaerned and how it got there.....
but he does have th big fart shah mehmood at hsi side though.....
 

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