CAF-2 · Chapter 2 · Question 15 of 15
Does the Majlis-e-Shoora (Parliament) have the power to levy tax on the income of a corporation owned or controlled by a Provincial Government?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) Yes, Parliament has the power to levy tax on such corporations regardless of the ultimate destination of their income.
Explanation
Majlis-e-Shoora (Parliament) has the power to make a law to provide for the levy and recovery of a tax on the income of a corporation, company, or institution owned or controlled by the Federal or a Provincial Government, regardless of the ultimate destination of such income.
More Constitutional Provisions on Taxes MCQs
- Q2According to the Constitution of Pakistan, all revenues received and loans raised by the Federal Government shall form part of:
- Q3Monies received by or deposited with the Supreme Court of Pakistan are credited to:
- Q4Which of the following is NOT an expenditure charged upon the Federal Consolidated Fund?
- Q5The statement of the estimated receipts and expenditure of the Federal Government for a financial year, laid before the National Assembly…
- Q6Who is required by the Constitution to authenticate the schedule of authorized expenditure by his/her signature?