There is considerable ambiguity in Pakistan regarding the proper treatment of director’s loans, particularly in cases where individuals initially register their companies with minimal paid-up capital. Subsequently, they deposit additional amounts and categorize these as investments, often labeling them as…
Section 136 of the Income Tax Ordinance, 2001 in Pakistan indeed deals with the burden of proof in tax matters. This section outlines the allocation of the burden of proof between the taxpayer and the tax department (Federal Board of…
The future of corporate consultancy is likely to be influenced by several trends, including: In summary, the future of corporate consultancy is likely to be shaped by several key trends, including technology, sustainability, globalization, diversity and inclusion, remote work, data…
The future of tax consultancy is likely to be shaped by several trends, including: In summary, the future of tax consultancy is likely to be characterized by increased automation, globalization, regulatory changes, data analytics, and a greater focus on personalized…
Form 1 If the company registered before calendar year 2022, must have to file form 1 along with subscription capital Certificate. This form is applicable for both single members and private limited companies. Form A/29 Single Member Company In case…
Option 1 The deduction of WHT on receipts of IT Exports considered as Final Tax Regime for tax treatment if the conditions mentioned in Section 154(2) of ITO, 2001 fulfilled. Rate of Taxes 0.25% for those registered with PSEB 1%…
There is list of products where no further tax charge as they fall under third schedule of Sales Tax Act 1990. Fruit juices and vegetable juices Ice Cream. Aerated waters or beverages. Syrups and squashes. Cigarettes Toilet soap Detergents Shampoo…
After the finance bill 2022, following taxation will be implemented on IT Export Services. (W.e.f 1st July 2022) 0.25% on Export proceeds of Computer software or IT services or IT Enabled services by persons registered with Pakistan Software Export Board…
After receiving subscription capital, company members decided to appoint directors. These appointed directors automatically retired in first Annual General Meeting. In first AGM, number of directors fixed which can only be change in upward scenario through elections u/s 162 of…
Board Of Investment (BOI) It is a sole autonomous body who has the right to register the foreign company’s branch office in Pakistan. There are many steps involved in the registration process of branch office in Pakistan. Difference Between Branch…
