FBR Notifications
202011231611585041SRO1249(I)of2020 1240(I)of2020 SRO1241(1)2020 COMMENTARY Commentary FBR Notifications (Nov 2020)
DISCLAIMER
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ACCOUNTING IMPLICATIONS OF THE IMPACTS OF COVID – 19
This blog is written by Mr. Daniyal Naeem. Please read this blog and provide your valued comments ACCOUNTING IMPLICATIONS OF THE IMPACTS OF COVID – 19 Context The World Health Organization proclaimed Corona Virus (COVID-19) to be a general wellbeing crisis on January 30, 2020. As at March 31, 2020, nearly the entire [...]
V-LOGS (EXCLUSIVE)
IN HOUSE PRESENTATIONS Mr. Sharif Uddin Khilji, FCA Chief Executive Following are the links of ZOOM based presentations of topics related to Income Tax Returns, Wealth Statements and different related aspects: Preparation of annual tax return Part 1 https://www.youtube.com/watch?v=ySoahPAwbsA Preparation of tax return Part 2 https://www.youtube.com/watch?v=oMrPRHH0Yno Preparation of return Part 3 https://www.youtube.com/watch?v=QOB_WsXxuv4 Preparation of annual [...]
Business Valuation
This blog is written by Mr. Haseeb Ahmad. Please read this blog and provide your valued comments HA BLOG 11112020 Introduction to business valuation The term valuation implies the task of estimating the value/worth of a security an asset or a business. The price that an investor is willing to pay would be related [...]
AN INSIGHT TO IFRS 16(LEASES)
This blog is written by Mr. Sulaiman Khan. Please read this blog and provide your valued comments IFRS 16 Leases brings significant changes in accounting requirements for lease accounting, primarily for lessees. IFRS 16 replaces the existing suite of standard (IAS 17) and interpretations on leases Lessors The guidance relating to lessors remains substantially unchanged [...]
DEFAULT SURCHARGE
This blog is written by Mr. Waqas Haider Gondal. Please read this blog and provide your valued comments Default surcharge is a civil penalty to encourage businesses to submit their VAT Returns and pay the tax due on time. Value-Added Tax (VAT) A value-added tax (VAT) is a consumption tax placed on a product [...]
FBR SROs
NOTIFICATION NO: S.R.O. 1172(l)/2020 DATE OF ISSUANCE: 4th November, 2020 EFFECTIVE FROM: WITH IMMEDIATE EFFECT (i.e. 4th November, 2020). AMENDMENTS MADE IN: Sales Tax Rules, 2006 INTRODUCTION Chapter V of Sales tax Rules, 2006 relates to general sales tax refunds while Chapter of V-A relates specially to refunds to five export-oriented sectors. These refund rules were [...]
KCO Newsletter October 2020
CONTENTS COMMENTARY ON CASE LAW - LAHORE HIGH COURT PETITION NO 142 OF 2009 COMMENTARY ON CASE LAW - APPELLATE TRIBUNAL INLAND REVENUE, LAHORE ITA 1411 TO 1416 (LB) 2015 COMMENTARY ON CASE LAW - LAHORE HIGH COURT, BAHAWALPUR BENCH PETITION NO 03 OF 2019 COMMENTARY ON CASE LAW - ATIR, DIVISIONAL BENCH-1, ISLAMABAD STA [...]
SECP Circular
Circular-No.33-of-2020
WITHHOLDING ON SALES TAX
This blog is written by Mr. Daniyal Naeem. Please read this blog and provide your valued comments Sales Tax defined under Sales Tax Act, 1990 as: (a) the tax, additional tax, or default surcharge levied, (b) a fine, penalty or fee imposed or charged, and (c) any other sum payable under the provisions of this [...]