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Tax on Income Abroad
05-19-2010, 09:19 PM
Post: #1
Tax on Income Abroad
Hello,

I am not sure if this has been discussed here before or not.

I want to know if any income I earn from abroad while living in Pakistan is taxable here or not

Let put the scenario here.

I work for a private organization with an annual salary of 300,000. I also do online web based work for customers/companies abroad through my site . This give me another 2000 to 3000 GBP (PKR 315000)annually and over all its around PKR 550,000 to 600,000.

I want to know which of my income is taxable. Do I need to pay tax on my Pakistani income or on total income. Please note that in UK any income under 4500GBP is non-taxable.


Thanks

Ikram
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05-29-2010, 06:41 AM
Post: #2
 
Since it does not look like a salary income, it does not look like exempted under 102. as well

Foriegn tax credit as per 103 will be allowed to the tax payer i.e lower of foriegn tax paid or Pakistan tax payable
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05-30-2010, 04:48 PM
Post: #3
 
Thanks Zeeshan,

Sorry to be a layman. does this mean I will also pay tax on income abroad or not. If yes than how much it would be.

Thanks
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05-30-2010, 10:26 PM
Post: #4
 
tradex, a taxpayer is entitled to a tax credit on account for his foreign income(sec103) for an amount equal to lower of Pakistani tax payable on such income and foreign tax paid on such income. in this case u can not claim any tax credit.....
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