A tax is a financial payment or a kind of levy imposed on pubic by the government to support all the public expenditures. The resistance to pay the taxes can lead the one to get punished as per laws as avoiding to pay tax is considered to be a crime in any country. There are different types of taxes that are to be paid by the public of a country. The payment of taxes by the public has a strong impact on the economy of a country. Taxes are paid on all noticeable possessions to support the economy.

The government of Pakistan has issued tax payments and all the methods to pay, on all the items, in the law of the country. These acts, written in the law of Pakistan, concerning taxes are to be followed by every citizen without any discrimination.

Stamp Duty

Stamp Duty is another tax paid by the public, on any legal documentation. Stamp duty is a tax collected on purchasing stamps for legal documentations. This stamp presents that the tax has been paid by a particular person.

Stamp Amendment Ordinance 2020

Concerning corona lockdown, the government of Pakistan is making efforts by all means to support and facilitate the people of the country. The government has announced many inducements for several sectors working in the country.  

A meeting of the cabinet was held on Thursday, on legislative business in civil secretariat that approved the proposal presented by the board of revenue regarding reduction in stamp duty

The meeting was chaired by Minister of Law, Parliamentary Affairs and Social Welfare. The meeting was also attended by all the concerned authorities and relevant departments.

The amendment is the law of stamp duty is also appreciated by the governor of Punjab, Ch Muhammad Sarwar that under the current circumstances immediate actions are to be taken by the government and provinces are to support those actions to facilitate the public.

Reduction in Stamp Duty

The ordinance will be known as Stamp amendment Ordinance 2020 and it extends to the urban areas of Punjab too. This amendment will be followed by the 30th of June. The amendment says that the tax on stamp duty has been reduced to 1 percent that was 5 percent previously. The step has been taken to support the citizens of the country.

Jaageer Calculator

The collection of stamp duty was first to be handled by the Board of Revenue. It was difficult for people to calculate how much they have to pay on a particular percentage. Jaageer.com has made it easy for the people of Pakistan to calculate the amount of their taxes and registries with the invention of the Jaageer Registry Calculator.

With the help of Jaageer Registry Calculator, the people of Pakistan are given a tremendous opportunity to calculate their taxes online without any problem of having an exact figure to pay and without any hurdles of standing in the queue just for the calculations.

To know more about the Jaageer Registry Calculator, visit the link https://www.jaageer.com/calculator