COMMON COMPLIANCE ISSUES FACED BY BUSINESSES IN PAKISTAN Tax compliance Tax compliance is a term that refers to the ability and willingness of taxpayers to comply with their tax obligations. In Pakistan, tax compliance is a significant challenge for businesses, as they have to deal with a complex and frequently changing tax system. We will […]
COMMON COMPLIANCE ISSUES FACED BY BUSINESSES IN PAKISTAN Read More »
The basics of auditing in Pakistan. Auditing is the process of examining and verifying the financial statements of an entity to ensure that they are accurate, complete and comply with the applicable standards and regulations. Auditing is essential for enhancing the credibility and reliability of financial information, as well as for safeguarding the interests of
The basics of auditing in Pakistan Read More »
In Pakistan, property tax is collected by the Federal Board of Revenue (FBR), which is the central tax authority responsible for collecting federal taxes. The property tax in Pakistan is levied on both residential and commercial properties and is based on the assessed value of the property. The property tax in Pakistan is a major
WHAT IS PROPERTY TAX IN PAKISTAN? Read More »
GOVERNMENT OF PAKISTAN FEDERAL BOARD OF REVENUE (REVENUE DIVISION) …. INCOME TAX MANUAL PART I INCOME TAX ORDINANCE, 2001 AMENDED UPTO 30th JUNE, 2022 INCOME TAX ORDINANCE, 2001 AMENDED UPTO 30.06.2022 TABLE OF CONTENTS SECTIONS CHAPTER 1 PRELIMINARY PAGE NO. 1. Short title, extent and commencement 1 2. Definitions 1 3. Ordinance to
INCOME TAX ORDINANCE, 2001 – AMENDED UPTO 30th JUNE, 2022 Read More »
Capital Gains Tax is a tax imposed on the profits that an individual or an organization earns from selling or disposing of an asset. In Pakistan, Capital Gains Tax (CGT) is a type of tax that is levied on the gains made by a taxpayer on the sale or disposal of certain specified assets. The
WHAT IS CAPITAL GAINS TAX(PAKISTAN)? Read More »
In Pakistan, construction services are subject to sales tax under the Sales Tax Act, 1990. The tax rates and procedures vary depending on the location of the construction service and the type of service provided. In Punjab, the Punjab Revenue Authority (PRA) is responsible for the collection of sales tax on construction services. The
WHAT IS THE TAX ON CONSTRUCTION SERVICES IN PAKISTAN? Read More »
To register a construction company with the Pakistan Engineering Council (PEC), please follow these steps: Step 1: Obtain a National Tax Number (NTN) and Sales Tax Number (STRN) Before registering with the PEC, you must obtain a National Tax Number (NTN) and a Sales Tax Registration Number (STRN) from the Federal Board of Revenue
HOW TO REGISTER A CONSTRUCTION COMPANY WITH PEC IN PAKISTAN? Read More »
Tax consultants play a crucial role in Pakistan’s tax system, providing valuable assistance and guidance to businesses and individuals in navigating the complex tax laws and regulations. Here are the key roles and responsibilities of tax consultants in Pakistan: Expertise in Tax Laws: Tax consultants are professionals with in-depth knowledge and expertise in Pakistan’s tax
The role of tax consultants in Pakistan Read More »
# Salary Taxation in Pakistan in tax year 2023 If you are a salaried person in Pakistan, you may be wondering how much tax you have to pay on your income in the tax year 2023. In this blog post, we will explain the basic concepts and rules of salary taxation in Pakistan, and provide
Salary Taxation in Pakistan in tax year 2023 Read More »
Preparing and filing tax returns in Pakistan is a crucial responsibility for businesses and individuals to comply with the tax laws and regulations. Here are the steps to prepare and file tax returns in Pakistan: Obtain National Tax Number (NTN): The first step in filing tax returns in Pakistan is to obtain a National Tax
How to prepare and file tax returns in Pakistan Read More »