PM Imran Khan has announced yet another tax amnesty for industry. This is the third tax amnesty by PTI Government. Earlier, PTI Government has announced... Continue Reading
Eleventh Schedule of the Sales Tax Act, 1990 provides information about withholding agents and rates of deduction of sales tax for different categories of suppliers.... Continue Reading
Every startup, at a certain point of time, has to decide about incorporating a company. Most common type of a company in Pakistan is “private... Continue Reading
During these testing times of COVID-19, the State Bank of Pakistan (SBP) has announced a historic loan facility at fixed 5% rate for business community. Sustainable economic... Continue Reading
Exports are to Pakistan’s economy as oxygen is to body. According to State Bank of Pakistan’s Export of Goods & Services publication of March 2020,... Continue Reading
Startup scene in Pakistan is developing at a rapid pace. SECP data shows that there were 5,724 companies in the Information Technology sector in Pakistan... Continue Reading
Prime Minister of Pakistan, Imran Khan, on April 17, 2020 announced Pakistan Construction Sector Relief Package for the builders & developers. Check gazetted copy of... Continue Reading
Good news for businesses! Now you don’t have to worry about keeping staff and payment of their salaries, at-least for three months. State Bank of... Continue Reading
COVID-19 has affected a number of industries in Punjab including services. Considering financial difficulties faced by service providers due to economic lock down, Punjab Government... Continue Reading
COVID-19 is no doubt the biggest health crisis our generation has faced. Governments all over the globe are announcing historic economic relief packages for businesses.... Continue Reading
Withholding taxes affect startup costs. Withholding taxes are important in determining legal structure of a startup. There is an ongoing debate: what should be legal... Continue Reading
Every company is required to keep books of account – be it private, public, listed, not for profit or even single member. Books of account... Continue Reading
It is your legal and social responsibility to pay taxes. Question is, whether FBR has right to recover tax from your employer, bank, landlord or... Continue Reading
Section 8B(1) of Sales Tax Act, 1990 provides restriction on input tax adjustment up to 90 pc of output tax for a tax period.... Continue Reading
Accounting equation is not something like complex mathematical equations such as E=mc2. It is easy to understand if you understand the basic concept of... Continue Reading
In a previous post, I discussed some basic accounts concepts. This post takes you a step further. It discusses why organisations prepare accounts. Doing business... Continue Reading
With the announcement of Finance Act, 2019, it became clear that the Government wants to leave no stone unturned to document the economy. As... Continue Reading
If you are confused in deciding which legal structure is right for your startup, you can perform a quick test. This post helps you understand legal... Continue Reading
Tax laws of Pakistan require to determine the residential status of a person. This requirement applies to individuals as well as companies and AOPs.... Continue Reading
Ever since the man came on planet earth, he had been doing something for living either in the form of business or employment. In... Continue Reading