This blog is written by Mr. Atif Jan, Associate Taxation and Corporate Services. Please read this blog and provide your valued comments. Agreements for the Avoidance of Double Taxation & Prevention of Fiscal Evasion Section (107) For the purpose of this section the Federal Government may enter into a tax treaty with other Governments for [...]
Income from Business This blog is written by Mr. Faisal Farooq, Associate Taxation and Corporate Services. Please read this blog and provide your valued comments. Income from Business The following incomes of a person for a tax year, other than income exempt from tax under this Ordinance, shall be chargeable to tax under the head “Income from [...]
Introduction Federal Board of Revenue issued Notifications ref: SRO SRO 1301(1)/2018 and SRO SRO 1302(1)/2018 dated October 29, 2018. Commentary SRO 1301(1)/2018 The said SRO supercedes the SRO 116(1)/2015 dated Feb 9, 2015 and specifies the functions, powers and jurisdiction of the Directorate General, Intelligence & Investigation-IR and its Officers. SRO 1302(1)/2018 The said SRO [...]
Procedure for Conversion of status of Private Company (Multi-Members) into Single Member Company This blog is written by Mr. Shahwazir Safi, Senior Associate Taxation and Corporate Services. Please read this blog and provide your valued comments. Procedure for Conversion of status of Private Company (Multi-Members) into Single Member Company Following procedure is required to be adopted for [...]
How to Register Oil & Gas Company Registration in Pakistan This blog is written by Mr. Rizwan Abbas, Senior Associate Taxation and Corporate Services. Please read this blog and prove your valued comments. How to Register Oil & Gas Company Registration in Pakistan Pakistan with ideal geographical location is recognized as gateway to central Asia and other [...]
Introduction SECP issued SRO 1300(I)/2018 dated October 25, 2018 to notify persons to whom any instrument in the nature of “redeemable capital” may be issued by a company under Section 66 of the Companies Act 2017. Commentary Extracts of the Section 66 of the Companies Act 2017: The eligible persons to whom redeemable capital may [...]
Introduction Federal Board of Revenue issued Circular No. 6 of 2018 ref: No1(79) R&S/2018 dated October 24, 2018. Commentary Through this Circular FBR has stated the procedure for taking credit of Tax Paid Under Amnesty Acts in 2018 but declaration not filed thereof. This procedure is for those who have paid tax under aforesaid acts [...]
Amending Assessment Order as a Result of Audit under Section 177 of Income Tax Ordinance 2001 This Blog is written by Mr. Muhammad Nabeel Ahmed Ch, Senior Associate Taxation and Corporate Services. Please read this interesting blog and provide your valued comments. Amending Assessment Order as a Result of Audit under Section 177 of Income [...]
Introduction Federal Board of Revenue issued Circular No. 6 of 2018 ref: C.No.4(69)IT-Budget/2018-PT-1 dated October 24, 2018. Through this Circular FBR has explained certain significant amendments which are brought about through Finance Supplementary (Amendment) Act, 2018. Commentary The aforementioned circular contains explanation on changes introduced vide Finance Supplementary (Amendment) Act, 2018. It is more of [...]
Introduction SECP issued Circular No. 18 of 2018 dated October 16, 2018 to notify amendment in Circular No. 41 of 2016 (Mandatory Requirements for Distributors Selling Mutual Fund Units of Single Asset Management Company). Commentary Amendment address the individuals, as referred in Clause # 1a of the Circular No. 41 of 2016, having minimum qualification [...]
