In continuation of our regular practice, we are pleased to present and publish our Newsletter for the month of APRIL 2019. Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (APRIL 2019) KCO Newsletter April 2019 This Newsletter envisages following aspects: COMMENTARY ON [...]
This blog is written by Mr. Hussain Mehmood, Senior Manager Taxation Advisory Services. Please read this blog and provide your valued comments. REDUCED RATE OF TAX FOR ADDITIONAL LOANS (RULE 7D, 7E & 7F - SEVENTH SCHEDULE) This is with reference to the introduction of new Rules 7D, 7E & 7D in Seventh Schedule. The same [...]
This Blog is written by Mr. Nauman Ul Qadeer, Senior Manager Corporate Consultancy Services. Please read this blog and provide your valued comments. Private Placement of Securities Rules 2017 This piece comprises of extracts of the provisions of the Private of Securities Rules 2017 and are being quoted / referred hereunder to give general idea [...]
This blog is written by Mr. Saif Uddin Khilji, Senior Manager Taxation Advisory Services. Please read this blog and provide your valued comments. RING FENCING [1]What is a Ring-Fence? A ring-fence is a virtual barrier that segregates a portion of an individual's or company's financial assets from the rest. [2]Ringfencing or Ring-fencing occurs when a portion of a company's assets or profits [...]
Detailed Commentary Detailed Commetnary for SECP SRO 491 Link of Document Amendments to Employees contributory Funds Regualtions
This blog is written by Mr. Ahmed Yar Khan, Senior Manager Audit and Assurance. Please read this blog and provide your valued comments. Intangible Assets — Web Site Costs SIC Interpretation 32 General SIC-32 concludes that a website developed by an entity using internal expenditure, whether for internal or external access, is an internally generated [...]
Introduction Government of Khyber Pakhtunkhwa (Finance Department) issued Notification BO(Res-III)/FD/2-2/2018-19/Vol II dated Apri 2, 2019. Commentary Through notification No. BO (Res-III)/ FD/2-2/2018-19/vol-II-Dated April 02, 2019 issued by Government of the Khyber Pakhtunkhwa the rate of sales tax on “services provided by Accountants, Auditors and tax consultants” has been changed from 15 [...]
This Blog is written by Mr. Abdul Hafeez, Senior Manager, Taxation Advisory Services. Please read this blog and provide your valued comments Highlights of Proposed Tax Amnesty Scheme 2019 The tax amnesty scheme 2019 has been approved in principle by Prime Minster of Pakistan after it was presented and briefed by federal finance minister. After the prime [...]
This blog is written by Mr. Ajmal Khan, Director, Khilji and Co Chartered Accountants. Please read this First part of the blog and provide your valued comments. IFRS-15- Revenue from Contracts With Customers OBJECTIVES OF IFRS-15 To establish the principles that an entity shall apply to report useful information to users of financial statements about the nature, [...]
Introduction SECP vide SRO # 437(i)/2019 dated April 8th 2019 made amendment by inserting provisos in Rule 5(5) and Rule 7(2)(ba) in the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003. Commentary Following new Provisos inserted in Rule 5(5) of Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 New provisos require [...]
