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 […]
What is Tax Accounting?
Tax accounting is a specialized area of accounting that deals with the preparation of tax returns and the reporting of tax information to the government. Tax accountants are responsible for […]
Provincial Tax Collection in Pakistan: A Comprehensive Guide
Tax collection is an essential part of any country’s financial system. In Pakistan, the government collects taxes at both the federal and provincial levels. In this blog post, we will […]
Differences Between Normal Assessment and Best Judgement Assessment in Pakistan
Taxation in Pakistan is a complex system with various assessments, processes, and procedures. Two of the most important assessments used by the Federal Board of Revenue (FBR) are the Normal […]
Navigating Tax Laws in Pakistan: A Guide for Small Business Owners
Starting a small business in Pakistan can be an exciting and rewarding venture. However, navigating the complex tax laws can be a daunting task for business owners. Understanding the tax […]
Tax Planning Strategies for High Net Worth Individuals in Pakistan
High net worth individuals (HNWIs) in Pakistan are subject to high tax rates on their income, wealth, and assets. However, with careful tax planning, HNWIs can minimize their tax liability […]
Taxation Measures Under Finance Act 2022: Taxpayers Paid Billions in Legal Fees
Taxation measures taken by the FBR in Pakistan have caused quite a stir among taxpayers, with many taking to the courts to challenge the imposition of super tax, CVT on […]
Understanding Tax Deductions for Teachers in Pakistan
As a teacher or researcher in Pakistan, you are entitled to specific tax deductions and credits that can significantly reduce your tax liability. The Income Tax Ordinance of 2001 outlines […]
Guide to Claiming Income Tax Refund in Pakistan
In Pakistan, income tax refund can be claimed by individuals, associations of persons, or companies who have paid more tax than their actual income tax liability during a tax year. […]
Proposed Tax Measures by FBR to Impact Pakistani Economy
The Federal Board of Revenue (FBR) in Pakistan has recently announced budget proposals for tax measures that are expected to impact the economy in the upcoming fiscal year. These measures […]