This blog is written by Mr. Hussain Mehmood, Senior Manager, Taxation Advisory Services. Please read this blog and provide your valued comments. Non-Applicability of Invoking Provisions of Section 221 against an order Treated to have been issued under Section 120(1)(B) This blog is on the subject of a practice adopted by the FBR [...]
This blog is written by Mr. Muhammad Shafaat Ali, Assistant Manager Taxation Advisory Services. Please read this blog and provide your valued comments. Blacklisting and Suspension of Sales Tax Registration Section 21 of the Sales Tax Act 1990, and Rule 12 of the Sales Tax Rules, 2006 explained the blacklisting and suspension of sales tax registration. The Commissioner may suspend/black [...]
This blog is written by Mr. Ahmed Yar Khan, Senior Manager Audit and Assurance Services. Please read this blog and provide your valued comments Share Valuation Valuation of shares is the process of determining the fair value of the company shares. Share valuation is done based on quantitative techniques and share value will vary depending on the [...]
This Blog is written by Mr. Muhammad Kaleem Majeed, Manager, Taxation Advisory Services. Pleas read this blog and provide your valued Comments PROCEDURE FOR CHANGE OF RATE FOR SMALL COMPANIES IN IRIS “You don't get gushers of revenue by raising tax rates. You get it through expansion” The purpose of this blog is to explain the [...]
This blog is written by Mr. Ikram Ul Haq, BFP ACA – England and Wales, Manager Taxation and Accounting Services. Please read this blog and provide your valued comments. Income Tax and Sales Tax in FATA and PATA post 25th amendment to the constitution of Pakistan The purpose of this blog is to discuss exemption available [...]
This blog is written by Mr. Abdul Hafeez, Senior Manager, Taxation Advisory Services. Kindly read this blog and provide your valued comments. Up to tax year 2019 capital gain on sale of property was separately taxed on the basis of holding period of property as per following rates:. For immovable property acquired on or after [...]
This blog is written by Mr. Saif Uddin Khilji. Please read this blog and provide your valued comments. In order to ensure correct reporting of sales by retailers and realization of due tax from them, FBR had prescribed electronic integration of points of sales (POSs) of all ‘Tier-1 retailers’. The retailers don't need to [...]
This blog is written by Mr. Sharif Uddin Khilji, FCA Chief Executive, Khilji and Co Chartered Accountants. Please read this blog and provide your valued comments. Principles of interpretation of Schedule of Provincial Sales Tax Laws The interpretation of schedules of Provincial Sales Tax Law and various entries in those schedules has remained a problem [...]
This blog is written by Syed Asim Habib, Senior Manager HR and Business Development. Analysis of Sugar Industry and Shortfall of Sugar Currently, Pakistan is termed as amongst top 20 countries in terms of area under cultivation of the sugar cane crop, and production, however, this top ranking takes a nose dive, when actual yield [...]
This blog is written by Mr. Muhammad Waheed Iqbal, FCA, Partner Khilji and Co Chartered Accountants. Alternate Corporate Tax (113C) A new concept of Alternative Corporate Tax (ACT) was introduced through Finance Act, 2014. In this blog we will briefly discuss the important provisions relating to ACT. 1. ACT is applicable to the companies only. [...]
