Top Tax Consultants in Lahore, Pakistan | Global Tax Consultants
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Step by step process for registration of construction company in Pakistan

Construction company registration in Pakistan passes through the following steps. Click below links to access the details. 1- Company Registration With SECP 2- Business Registration with FBR 3- Company Registration with Pakistan Engineering Council       Related Stories How to register a construction company in Pakistan   Registration of construction company as builder and

Conditions imposed on free use of foreign currency accounts abroad

Free use of foreign currency account outside Pakistan stopped by government. Click below for details:  Foreign Currency Accounts Rules. CONDITIONS IMPOSED Important points under foreign currency rules 2020. History / background of foreign currency accounts laws in Pakistan.   More: Taxation Of Gifts In Pakistan

Taxation of gifts in Pakistan

Here, in this topic of “Taxation of gifts in Pakistan” we will cover the following areas: Click on the topics for further explanation.  When Gifts Treated as Income ? Fair Market Value of Property Gift In Cash or Through Banking Channel When Gift will Exempt from Tax ?   RELATED Taxation of gifts in Pakistan

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RSS TAX.net.pk (Our Tax News Portal)

  • Banking mohtasib receives complaints against banks October 23, 2020
    The Banking Mohtasib (Ombudsman) Pakistan received 14,587 complaints against banks for the year ended December 31, 2019. The annual report of Banking Mohtasib Pakistan received the following no of complaints: S. No. Bank Total 01 Albaraka Bank (Pakistan) Limited 56 02 Allied Bank Limited 586 03 Askari Bank Limited 227 04 Bank Al Habib Limited... […]
  • FATF takes up Pakistan case tomorrow October 22, 2020
    With compliance of 21 points out of 27 action plan placed to combat money laundering and terror financing. The FATF’s meeting started in Paris on Wednesday. The FATF meeting will decide fate of Pakistan either to keep it on grey list for another extended period or to remove it from the grey list. Financial Action... […]
  • Govt increases wheat support price by over 14% October 22, 2020
    The federal government increased the minimum wheat procurement price by 14.3% to Rs1,600 per 40 Kg. To give subsidy on fertilisers aimed at increasing farmers’ income. The decision taken during a subcommittee meeting of the Economic Coordination Committee (ECC). The subcommittee comprised 10 members. Decided to increase the minimum wheat support price from Rs1,400 to... […]
  • How to register a construction company in Pakistan October 16, 2020
    Steps for registration of a construction company in Pakistan. While registering a construction company in Pakistan, the process can be divided in to following parts, Registration of a Company (Private / Public) with Securities and Exchange Commission of Pakistan (SECP). NTN Registration with the Federal Board of Revenue (FBR). Registration with the Pakistan Engineering Council... […]
  • IMF reports stagflation in Pakistan October 15, 2020
    Pakistan’s economy may grow by 1%, inflation may cross above 10%. Unemployment going to increase by the end of this fiscal year. Facts speculated in the World Economic Outlook (WEO) report that the International Monetary Fund (IMF) published on Tuesday. The WEO report 2020 this year is titled “a long and difficult ascent”. Which described... […]
  • Free use of foreign currency account outside Pakistan stopped by government October 12, 2020
    In an effort to document economy, dismantle manipulations of foreign currency markets and money laundering, the Federal Government has notified Foreign Currency Accounts Rules, 2020 w.e.f. 9th October 2020. Another condition of the Financial Action Task Force (FATF) fulfilled by the PTI government. Free use of foreign currency account outside Pakistan stopped by the government.... […]
  • FBR upgrades FASTER to FASTER PLUS system for issuance of Refunds October 5, 2020
    STARR system FBR’s automation process of refund of Sales Tax started in 2002. Through introduction of STARR system a semi-automated system. Refund claimants would file refund claims through Refund Claims Preparatory System (RCPS). Data of refunds taken to field offices on CDs where the refund claims sanctioned at field level. ERS System In the year... […]
  • Taxation of gifts in Pakistan October 3, 2020
    When Gifts Treated as Income ? The FBR will consider provision of gift from closed blood relations. If received through cross cheque or banking channel. Otherwise it will add in income chargeable to tax. The FBR has also empowered Commissioners to freeze any domestic assets of a person involved in offshore tax evasion. About taxation on gift, under... […]
  • Persons required to get sales tax registration with FBR October 2, 2020
    According to section 14 of the Sales Tax Act, 1990, every person who is involved in supplying of “taxable supplies” in Pakistan are required to get sales tax registration. Such persons also include suppliers of zero rates goods. Taxable supplies According to sub-section (41) of section 2, “taxable supply” means a supply of taxable goods... […]
  • FBR issued valuation for sale of used cars for purpose of collecting sales tax. October 1, 2020
    Federal Board of Revenue (FBR) issued valuation for sale of used cars for purpose of collecting sales tax. Amendment of Sales Tax Rules, 2006 The FBR issued SRO 93(I)/2020 to amend Sales Tax Rules, 2006. The FBR issued the rules to implement to the law introduced through Finance Act, 2020 to determine the valuation of... […]

OUR
SERVICES

Global Tax Consultants in Lahore, Pakistan is an experienced tax consultants organization. Established by Fayyaz Ahmed Khan. Having CA (CAF), MA (Eco.,), B.com, Income tax practitioner (ITP) of FBR, CA articles of ICAP, and life member Lahore Tax Bar Association (LTBA). Having more than 15 Years of experience of industry and consultancy firm as controller of accounts and finance and professional experience in the field of tax, accounts, corporate, audit, and accounting software. We also generally regarded by organization as a global partner in tax, accounting, audit and IT consulting.

TAX

Registration of NTN, Sales Tax, & Weboc of Sole Proprietor, AOP & Company, Sales Tax Returns, Submission of Withholding Statements

CORPORATE MATTERS

Incorporation / formation of companies, Increase in share capital, Issuance of shares of non-listed companies

FIRM MATTERS

Formation of a Partnership Business, Registration of Partnership Business with Registrar (Form C)

Office Location !

Frequently Asked Questions

I already have an accountant, why do I need a Tax Consultant as well?

You sound like a tax specialist. Can you manage my accounts as well? I don’t want to employ two people to handle my accounts and finances.

Yes, an Accountant’s role is key to business progress but tax specialist plays his role on front foot. Tax Planning is vital for management of books of accounts, and financial matters of any business. So we are here to provide you the both services at once.

What sort of things can you do for me?

We are here to provide you Tax, Corporate, Audits, Accounting, IPO, Software and Learning Courses Services.

Is this like Tax avoidance? Isn’t that illegal?

Yes, Tax Avoidance is illegal. But tax Planning in your business to avoid any legal consequences and to run your business in such a way that you not only save your money but also comply the laws of taxation, is legal. For instance, a limited company issues shares instead of cash payments to his shareholders is actually a legitimate tax planning.

What type of Business registration is suitable for my business?

It’s very famous question! There are three types of business registrations, Sole Proprietor, Partnership Business Firm and Private / Public limited companies. First decision depends on no of partners, financial position of businesses, and last but not the least industry requirement.

What is the due date for submission of Annual Tax Returns?

For Salaried individuals the due date is 31st August, for other than salaried individuals the due date is 30th September and for limited companies the due date is 31st December after the close of the financial year.

What about Qualification of Tax Consultants in Lahore, Pakistan ?

Tax Consultants in Lahore, Pakistan are qualified Chartered Accountants, Advocates, Management Accountants, ITPs, and other Accounts background professionals.

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