Steps to setup Partnership in Pakistan
Partnership Firm /Trust For partnership firm registration in Pakistan following documents are required Minimum two persons are required. Full Name, Father or Husband Name, Residential address and Occupation of each partner Copy of the National Identity cards of all partners Copy of latest paid electric bill. An application to the registrar of the firms Partnership […]
Steps needed to setup Private Limited Company In Pakistan
Private Company Registration Private Company with Resident Directors Company Name Reservation Company Name Reservation is the first process in company registration. Only a successfully reserved Company name allows its holder to proceed to further available processes. Private Limited Company With Local directors Following information/documents are required: Copy of Name Availability CNIC copies of directors & shareholders […]
How to setup foreign company Branch or Laison Office in Pakistan
Individual An Individual can start business by getting NTN from FBR, or if an individual already have NTN than only new Business would be added in the tax profile (same NTN). Foreign Company Branch/Liaison Office Foreign Company if wishes to establish its place of business in Pakistan Following step are required BOI Permission A foreign […]
How to file your Tax Return in Pakistan
Online Filling of Returns Income Tax E-filing of Annual Income Tax return of individuals, Association of persons & companies. Preparation and filling of Wealth statement and Wealth Reconciliation Statement. Preparation and filing of monthly Withholding Tax Statements (WHT). Preparation of electronic Challans Sales Tax: Preparation and filling of monthly sale tax returns Preparation of challans […]
How to Register your NTN in Pakistan
For Individuals Online Income Tax registration (NTN) is available onhttps://iris.fbr.gov.pk/infosys/public/txplogin.xhtml Online registration is available for Income Tax and not for Sales Tax. For Sale Tax Registration Number (STRN) an individual have to visit personally to any Facilitation Counter of any Tax House with documents required are: Original CNIC; Cell phone with SIM registered against his own […]
FBR chairman gets extension in service tenure
ISLAMABAD: The federal cabinet on Tuesday extended the service tenure of the Federal Board of Revenue (FBR) chairman Javed Ghani for another three months. Mr Ghani was given the additional charge of FBR chairman on July 4, 2020 for a period of three months until the appointment of a regular chairman. Mr Ghani is the […]
Tax bar concerned over delay in FBR forms
KARACHI: Karachi Tax Bar Association (KTBA) on Monday expressed concerns on the delay in issuance of form for updating taxpayers’ profile, as only three days remain to comply with the mandatory requirement. The Federal Board of Revenue (FBR) added section 114A to Income Tax Ordinance, 2001 through Finance Act, 2020, which made it mandatory for […]
List of 313 Duty Free Items to Export to China from Pakistan
Pakistan’s List of 313 High Priority Tariff lines to get Immediate Tariff Elimination from China Sr. No. HS Code (8-DIGIT) Description Applicable Rate 1 0201 2000 Fresh or chilled unboned bovine meat (excl. carcasses) 6 2 0201 3000 Fresh or chilled boneless bovine meat 6 3 0202 1000 Frozen bovine carcasses & half carcasses 25 […]