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IPO Lecture # 31

Intellectual Property (IP) Intellectual Property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce

Intellectual Property (IP) IP is protected in law by, for example, patents, copyright and trademarks which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish.

Intellectual Property (IP)

The Tax Culture Federal Taxes Provincial Taxes Posted January 16, 2010 by basiliskt in Economic Development

Federal Taxes Direct Tax Income Taw Worker Welfare Tax Capital Value Tax Worker Profits participation Fund Indirect Tax Custom Duties Federal Excise Sales Tax

Federal Taxes Income Tax It is kind of direct tax that is lived on a person having income more than the certain level. Workers Welfare Tax It is charged on the manufacturers having income of Rs 100,000 and above. Employees Old Age Benefit Scheme is financed through this fund.

Federal Taxes Capital Value Tax Capital Value Tax is payable by every individual, association of persons, firm and company, not born on the National Tax Register. Worker Profits participation Fund This tax is paid by the industrial undertaking having more than 10 workers of their profits for distribution amongst workers.

Federal Taxes Custom Duties Customs duties are levied through Customs Act, 1969 on goods imported into Pakistan. Federal Excise Federal Excise Duties are levied on domestic production, imports and services rendered in the country. The major excisable commodities include cigarettes, cement etc.

Federal Taxes Sales Tax Sales tax is liable on sales of all goods and services produced in the country excluding those goods exempted in the Sales Tax Act, 1990.

Provincial Tax Property Tax Excise Tax Stamp Duty Motor Vehicle Tax

The sources of tax revenue in Pakistan US38 % million out of million Americans UK45 % million out of 64.1 million taxpayers India2.89 % of the population (about 36 million people) PakistanOnly 0.57% of Pakistanis, or 768,000 people out of a population of 190 million pay income tax

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