Documents Required for Sales Tax Return Filing in FBR
Navigating the intricacies of tax compliance can be challenging. This article aims to simplify the process of filing Sales Tax returns with the Federal Board of Revenue (FBR) in Pakistan, […]
Who is a Withholding Agent?
If you’re a taxpayer in Pakistan, it’s important to have a clear understanding of withholding tax. Withholding tax is a tax that is deducted at source from payments made by […]
Essential Information to Mention in FBR Tax Invoice
Tax invoices play a crucial role in Pakistan’s tax system, ensuring transparency and accountability in transactions involving registered businesses. This article delves into the key aspects of these documents, explaining […]
Which Documents are Required to Get Your NTN?
Obtaining a National Tax Number (NTN) is crucial for individuals in Pakistan who earn income from various sources, including businesses, salaries, properties, and more. Fortunately, the Federal Board of Revenue […]
How to File Withholding Tax Statements in Pakistan?
Understanding Withholding Tax Statements Withholding tax statements are required under Section 165 of the Income Tax Ordinance, 2001. These statements report the taxes withheld from various income sources, such as […]
Winding Down Your Business
A Guide to Section 117 of ITO 2001 Closing the curtains on a business can be bittersweet. While you might be moving on to new ventures, wrapping up the financial […]
No Secret Bank Accounts
A Guide to Section 114A Explains Business Bank Transparency For Pakistani taxpayers, navigating the intricacies of income tax regulations can be a daunting task. But fear not! Section 114A of […]
Demystifying Tax Accounting: Income Recognition and Expenses
Tax accounting plays a crucial role in determining taxable income for businesses. It goes beyond simple bookkeeping, focusing on the timing of how income and expenses are recognized, impacting a […]
A Guide to Claiming Pre-Launch Business Expense Deductions
Understanding Pre-Commencement Expenditure Deductions Starting a business is an exciting journey, but it’s not without its initial hurdles. One crucial aspect to consider is the financial burden of pre-launch expenses. […]
Essential Guide to Non-Deductible Expenses for Businesses
A Guide to Non-Deductible Expenses Under Section 21 of the Income Tax Ordinance While Section 20 of the Income Tax Ordinance offers businesses the opportunity to reduce their taxable income […]