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...
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...
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...
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...
Disadvantages/Demerits of Company Registration in Pakistan
Authorize Capital FeeDifficult Closure of Company FeeHigh Professional TaxWHT AgentMinimum Tax Provision Advance Tax applicable ACT (Alternative Corporate tax ) Update about AddressDouble TaxationCorporate TaxAlteration in Memorandum required for change in Business Activity UBO Compliances Lack of Secrecy Annual Return Form A/29Appointment of AuditorLegal Advisor Financial StatementsAudited Accounts Corporate Bank...
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 CategoryLicense Project LimitAnnual / Renewal fee1.C62.5 MillionRs 15,0002.C56.5 MillionRs 30,0003.C420 MillionRs 45,0004.C350 MillionRs 75,0005.C2100 MillionRs 1,25,0006.C1250 MillionRs 1,50,0007.CB400 MillionRs 2,50,0008.CANo Limit LicenseRs 4,00,000 Foreign Company PEC Fee Sr. #Constructor CategoryLimit of Construction Cost of Project (Million...
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....
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...
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.
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...