Tax


NPOs criticize government for proposed tax on their surplus funds

Islamabad – The non-profit organisations (NPOs) have voiced their concerns over proposed imposition of income tax on the organisations on their surplus restricted funds by the government through the Finance Bill 2017-18. In a joint declaration issued here through the platform of Pakistan Development Alliance (PDA), NPOs voiced their concern and demanded to withdraw any such proposal, describing it as “unwarranted and unjustifiable.” The federal government, under Section 100 C of the Finance Bill 2017, has proposed income tax at 10 per cent for NPOs on surplus restricted funds. In case the administrative expenses exceed 15 per cent of the total […]