Minimum Tax
A floor tax on turnover that applies even if you have little or no profit.
Explained Simply
Minimum tax makes sure businesses contribute something even in a loss or low-profit year. It's charged on turnover at a set percentage; if your normal tax is lower than the minimum, you pay the minimum.
Legal Definition
Section 113 of the Income Tax Ordinance, 2001.
📖 Section 113
Educational definition, not legal advice. Verify against the statute text (Section 113) before acting.
Advertisement