Taxation System and Budget of Pakistan

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1. : Which body is responsible for collecting federal taxes in Pakistan?





2. : What is the fiscal year period in Pakistan?





3. : What is the main source of revenue for the government of Pakistan?





4. : Which of the following is a direct tax in Pakistan?





5. : The annual federal budget of Pakistan is presented by which ministry?





6. : Who prepares the annual budget in Pakistan?





7. : What is the purpose of the budget?





8. : Which type of budget shows equal income and expenditure?





9. : What is a budget deficit?





10. : Which tax is levied on the purchase of goods and services?





11. : Which government institution audits government expenditures?





12. : What percentage of GST (General Sales Tax) is typically charged in Pakistan?





13. : Which is an example of indirect tax?





14. : Which is not a part of the federal budget?





15. : Who presents the federal budget in the National Assembly?





16. : When is the federal budget typically presented?





17. : What is meant by “tax evasion”?





18. : Which tax is charged on income earned by companies?





19. : What is the function of the FBR?





20. : What does PSDP stand for in the budget?





21. : Which document gives detailed data on Pakistan’s economy before the budget?





22. : Which house of Parliament approves the federal budget?





23. : Which of the following is not a federal tax in Pakistan?





24. : What is the term for reducing or eliminating taxes on certain items?





25. : A progressive tax system means:





26. : What does “Zero-rated” mean in taxation?





27. : How often is income tax paid in Pakistan?





28. : What is a Finance Bill?





29. : What is the role of the State Bank during budget-making?





30. : What is the effect of deficit financing?





31. : Which tax applies to import and export goods?





32. : The budgetary deficit is usually financed by:





33. : What is a surplus budget?

35. : Which is a non-tax revenue source for the government?





36. : What is included in development expenditure?





37. : Tax holidays are granted to:





38. : Which is a goal of taxation?





39. : The Senate can:





40. : The largest allocation in Pakistan’s budget is usually for:





41. : Who monitors tax evasion in Pakistan?





42. : Withholding tax is:





43. : The Constitution of Pakistan requires that budget be passed by:





44. : Which document contains tax changes proposed in the budget?





45. : Surcharge is an additional charge on:





46. : Value Added Tax (VAT) is a type of:





47. : A tax on luxury goods is known as:





48. : Budget estimates are prepared by:





49. : What is the purpose of a supplementary budget?





50. : The GST system in Pakistan is administered by:





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