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....
Changes in NTN – National Tax Number
Every individual can do below mentioned changes in NTN issued by FBR. There are few changes which can be done online and you don't required to visit your concerned tax office. A person can change their registration information recorded for filing Income Tax Return in three (3) possible ways. Changing...
WithHolding Agents in Pakistan
WithHolding Agents are those who collect tax on behalf of FBR and deposit in Government Accounts. Every incorporated Company is WHT Agent in Pakistan. While in case of AOP And sole Proprietor whose turnover is more than 50 Million fall in WHT Agent list. Section 153(9) of Income Tax Ordinance ...
LLP Reigstration in Karachi
A new addition in form of business registration legally in Pakistan is Limited Liability Partnership. The word limited doesn't mean to be limited scope. It actually limited your legal compliance. Every business man desire to do business with limited liability as it mitigate the risk factor and less legal compliance...
How to Register a Limited Liability Partnership in Pakistan , Step by Step Process
Limited Liability Partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. In Pakistan the concept of Limited Liability Partnership was introduced in 2017. Limited Liability Partnership Act, 2017 was promulgate in 2017 and later on rules regulations were formulated for LLP registration...