This blog is written by Mr. Ahmad Yar Khan. Please read this blog and provide your valued comments The Government through the promulgation of Tax Laws (Amendment) Ordinance, 2021 approved the withdrawal of around 80 income tax exemptions. One of the industries impacted by this withdrawal is the IT and IT enabled services sector. It [...]
This blog is written by Mr. Agha Mudassar Khan. Please read this blog and provide your valued comments Lifting the Veil of Ultimate Beneficial Ownership Knowledge about real owners of any corporate vehicle is pivotal in worldwide efforts to fight against corruption, preventing money laundering, countering terror financing and combating tax frauds. Numerous empirical [...]
KCO BLOGS 2021 FATF RECOMMENDATIONS RELATED TO DNFBPs AND CHALLENGES FACED BY FBR This blog is written by Mr. Abdul Hafeez. Please read this blog and provide your valued comments INTRODUCTION: The FATF research highlighted a trend in the use of complex commercial arrangements by money launders (ML) and terrorism financiers (TF) to hide [...]
This blog is written by Mr. Asim Habib. Please read this blog and provide your valued comments Though, the year 2020 will be remembered in history as the year of pandemic and its devastation across the world. However, at the same time, the world will remember this year in redefining the word “normal”. The pandemic [...]
This blog is written by Mr. Saif Uddin Khilji. Please read this blog and provide your valued comments NOTICE UNDER RULE 44(4) OF INCOME TAX RULES 2002 This notice has become a norm and nearly every withholding agent is receiving this and being asked by the department to provide reconciliation under Rule 44(4) [...]
This blog is written by Mr. Nauman Ul Qadeer. Please read this blog and provide your valued comments The purpose of this blog is to give a brief introduction about commodity / mercantile exchange and to identify registration / licensing requirements of Future Brokers only. Introduction Commodity Exchange or Mercantile Exchange is a [...]
Dear Valued Client, NOTIFICATION NO: S.R.O. 1338(I)/2020 DATE OF ISSUANCE: 16th December, 2020 EFFECTIVE FROM: From date to be notified AMENDMENTS MADE IN: Sales Tax Rules, 2006 INTRODUCTION: Through this SRO, after chapter VIA in the Sales Tax Rules, 2002, new chapter VIB namely “Procedure for E-Audit” shall be inserted whereby procedure for conducting [...]
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 [...]
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 [...]
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 [...]
