Author: admin
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Anti-Money Laundering in Pakistan
Below notes written by Syed Tauqeer Bukhari (Advocate Supreme Court of Pakistan) Designated non-financial businesses and professions [DNFBPs] The following are the DNFBPs Real estate agents, builders, developers, Precious metals and precious stone dealers including jewelers and gem dealers, Lawyers, Accountants and other legal professionals Responsibilities of Real Estate agents under AMLA: The real estate agents…
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How to register Liaison Office in Pakistan
Liaison Office in Pakistan Liaison Office is established by a foreign company for promotion of product(s), provision of technical advice & assistance, exploring the possibility of joint collaboration and export promotion. However they cannot undertake any commercial and trading activities. Above definition of Liaison office is defined by Board of Investment in Pakistan who register…
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De-registration of NTN – Income Tax
How to de-register from income tax or in simple words how to cancel or delete National Tax Number NTN in Pakistan? This question arose in many tax payer especially who registered AOP and Companies. As once closed business they required to do so. In Income Tax Rules there is no rule specific for this purpose.…
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Deregistration of sales Tax
To a query whether sales tax de-registration and cancellation are same things, sources said that under rule 11 of the Sales Tax Rules, de-registration and cancellation of registration are entirely two different things. The registered persons have to follow a detailed procedure for obtaining de-registration certificates. Once a person is de-registered, his sales tax registration…
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Disadvantages/Demerits of Company Registration in Pakistan
Authorize Capital Fee Difficult Closure of Company Fee High Professional Tax WHT Agent Minimum Tax Provision Advance Tax applicable ACT (Alternative Corporate tax ) Update about Address Double Taxation Corporate Tax Alteration in Memorandum required for change in Business Activity UBO Compliances Lack of Secrecy Annual Return Form A/29 Appointment of Auditor Legal Advisor Financial…
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PEC Fee | Pakistan Engineering Council Fee
Through this link you may calculate PEC FEE http://221.120.235.62:8001/ Contractor Fee S. No. PEC License Category License Project Limit Annual / Renewal fee 1. C6 2.5 Million Rs 15,000 2. C5 6.5 Million Rs 30,000 3. C4 20 Million Rs 45,000 4. C3 50 Million Rs 75,000 5. C2 100 Million Rs 1,25,000 6. C1…
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How to close company in Pakistan?
Its common question arise once you registered a company without knowing the compliances of the corporate sector. After realization of the fact, wise individuals decided to wind-up company as earliest as possible to keep save themselves from further risk of mandatory obligations and liabilities arose because of continuation of company. There is misperception in many…
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Section 181 – Income Tax Ordinance 2001
Section 181 – Taxpayer Registration Every taxpayer shall apply in the prescribed form and in the prescribed manner for registration The Commissioner having jurisdiction over a case, where necessitated by the facts of the case, may also register a taxpayer in the prescribed manner. Taxpayer’s registration scheme shall be regulated through the rules to be…
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Section 181B – Income Tax Ordinance
Section 181B – Taxpayer Card The Board may make a scheme for introduction of tax-payer honor card for individual taxpayers, who fulfill a minimum criteria to be eligible for the benefits as contained in the scheme.
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Section 181AA – Income Tax Ordinance 2001
Section 181AA – Compulsory Registration in Certain Cases Notwithstanding anything contained in any law, for the time being in force, any application for Commercial/Industrial Connection of electricity or Natural Gas, shall not be processed and such connection shall not be provided unless the person applying for electricity or gas connection is registered under section 181.…