The year 2026 has become a conclusively decisive break even in Pakistani business world. After many years of legal confusion, the Federal Constitutional Court (FCC) has just made a landmark ruling that has in effect terminated the debate in the so called Super Tax. With the high-income earners, there is no uncertainty, the tax has […]
In case of companies that are based in Pakistan, filing a NIL tax return is equally important when the company has not had any business activity or revenues of any kind in the financial year. This blog walks you through step by step process to filing a NIL tax return for the companies in Pakistan […]
When a bank loan, a house purchase, or a conspicuous expenditure does not correspond with your outwardly stated earnings, the Federal Board of Revenue may request a clarification. This provision is found in Section 111 of Pakistan Income Tax Ordinance, 2001 under the heading of unexplained income or assets. What does Section 111 cover? According […]