Amid the coronavirus pandemic and surging number of Covid-19 cases in Punjab, the Usman Buzdar government presented a budget worth Rs. 2,240.7bn for the financial year 2021. The budget was an attempt to balance economic growth and development along with providing relief to the masses effected by the pandemic. Among the Covid-19 mitigation measures was a significant reduction in the General Sales Tax at restaurants … Continue reading Relief for restaurant goers: significant cut in GST
A consulting firm or a consultancy is a service providing business consisting of a panel of experts or consultants who offer professional advice to a person or an organization at a specific cost or fee. A consultant is an individual who is adept in his or her field and is experienced and qualified enough to attend to the needs of his clients. A consultancy firm … Continue reading Top Consultancy Firms in Pakistan
While some people have received some surprise tax bills when filing their returns, corporations continue to avoid paying tax — thanks to a cocktail of tax credits, loopholes, and exemptions. According to a report from the Institute on Taxation and Economic Policy (ITEP), Amazon (AMZN) will pay nothing in federal income taxes for the second year in a row. Thanks to the new Tax Cuts … Continue reading Amazon will pay $0 in taxes on $11,200,000,000 in profit for 2018
2019 Film, NETFLIX Movie claims Nawaz Sharif resigned after the panama leaks (He was dismissed) Then again it states its based on ‘some’ real shit. Star-powered drama,“The Laundromat” is about modern systems which protect the extremely wealthy. Panama Papers, Tax avoidance and weak laws are the basic gist. 1% of the entire world population damages the other 99% to avoid law and taxes. Financial Systems … Continue reading The Laundromat
The Senate Standing Committee on Finance, Revenue and Economic Affairs was informed on Thursday that the government has received Rs 7 billion additional tax in last six months after it imposed the Customs Duty on mobile phones for overseas Pakistanis. The Federal Board of Revenue (FBR) and other relevant government institutions during this period observed that duty imposition on imported mobile had a positive impact … Continue reading 7 billion collected on Mobiles only!
Bank account holders making aggregate deposits of Rs10 million in a month are on radar of Federal Board of Revenue (FBR) for the purpose of broadening of tax base and identifying concealed incomes. Federal Board of Revenue (FBR) has said that banks are required to provide details of account holders having aggregate deposits of Rs10 million in a month. The FBR issued Income Tax Ordinance, … Continue reading 10 million in deposits? You are now on FBR radar.
Here’s your friendly reminder that the 2018/19 Tax filing extension deadline for business and individual returns is October 31st! ✔️ Your accountant is going to need some time to work on them before that and you know what they appreciate the most? A great bookkeeper! What’s stopping you? Let’s talk ➡️ 0336-5116392 #TaxExtension #SmallBusinessTips #VirtualBookkeeper Continue reading Reminder
Property owners in the capital have seen an unprecedented 200% hike in property tax with little time to pay the charges. The Metropolitan Corporation Islamabad (MCI) approved the increase in property tax last December, making it applicable from July 1, but tensions between the MCI and Capital Development Authority (CDA) over who would control the revenue directorate responsible for collecting property tax meant that the … Continue reading 200% Tax Hike in Islamabad Properties
Dear Attendees, here is the presentation as promised. Click here to download Continue reading Finance for non-financial Entrepreneurs
Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has said that the revenue collection body will launch a mobile app for salaried persons to file tax returns on Friday. Talking to journalists, Shabbar Zaidi said that the mobile app will help citizens and salaried people to file their tax returns. He said that FBR decided to introduce the mobile app to facilitate the masses, business … Continue reading FBR to Launch Tax App for Return Filing Today- Chairman FBR