How to Address the Problem of Tax Avoidance in Pakistan
Tax avoidance is the legal use of loopholes in the tax code to reduce one’s tax liability. Tax evasion, on the other hand, is the illegal use of methods to […]
How to Tax a Permanent Establishment in Pakistan?
Permanent establishment is a crucial concept in taxation that determines the tax liabilities of foreign entities operating within a country’s jurisdiction. In Pakistan, the Income Tax Ordinance 2001 defines and […]
How is Turnover Tax Calculated in Pakistan?
Turnover tax is a type of indirect tax that is levied on the value of goods and services sold by businesses. In Pakistan, turnover tax is levied at a rate […]
Attention Taxpayers: Fix Your Invalid Income Tax Return Now!
This message serves as a crucial reminder for anyone who received a Notice 120(3) regarding their Income Tax Return (ITR). This notice signifies that your ITR contains deficiencies and could […]
How to Avoid Tax Scams in Pakistan: Tips for Small Business Owners
Shield Your Business: Essential Tips to Avoid Tax Scams in Pakistan Small businesses in Pakistan are prime targets for sophisticated tax scams, making vigilance crucial. Here are key strategies to […]
How to Claim Input Tax in a Goods and Services Contract in Pakistan
If you are a Pakistani business owner or taxpayer, you may have faced the challenge of claiming input tax in a goods and services contract. In Pakistan, goods are taxed […]
How to Avoid Tax Notices from Federal Board of Revenue in Pakistan
The FBR has set up criteria for the selection of audit cases, and while certain notices might be received by taxpayers from time to time, there are certain key mistakes […]
Sales Tax Deregistration in Pakistan: New Rules Provide Relief for Taxpayers
The Sales Tax system in Pakistan can be complex and cumbersome, especially for small business owners. However, the recent amendment to the Sales Tax Rules 2006, via S.R.O numbered 51(I)/2022, […]
Things You Need to Know About Filing Foreign Income and Asset Statement in Pakistan
If you are a resident taxpayer in Pakistan and have foreign income or assets, it is essential to understand the requirements for filing a Foreign Income and Asset Statement (FIAS) […]
How to Avoid Suspension of Your Sales Tax Account in Pakistan
As a registered taxpayer in Pakistan, it is crucial to maintain compliance with the taxation laws to avoid any legal repercussions. One of the major obligations of a registered person […]