Masood & Masood

Is there any Federal Excise Duty and/or special excise duty in Pakistan Law?

June 3, 2010 masood 1 Comment

Federal Excise duty formerly known as Central Excised Duty is Levied by the government of Pakistan as Federal Tax on the following: Goods produced or manufactured in Pakistan Goods imported into Pakistan Such goods as the Federal Government may, by notification in the official Gazette, specify, as are produced or manufactured in the non-tariff areas…

FAQs, Pakistan Taxation

How to do Foreign Investment in pakistan?

June 3, 2010 masood No Comments

Various Corporate structures are available for setting up a place of business in Pakistan for which Masood and Masood, Corporate and Legal Consultants can gice you the best advice in all of Pakistan Law Firms. In terms of the Investment Policy of the Government of Pakistan, there are three (03) ways, whereby, a foreign company may…

Company Incorporation, FAQs, Foreign Investment In Pakistan, Investment in Pakistan

Has Pakistan entered into Agreement for Avoidance of Double Taxation with other countries?

June 3, 2010 masood 2 Comments

The Government of Pakistan has so far signed agreements to avoid double taxation with 47 countries including almost all the developed countries of the world and such agreements are being signed with other countries as well. These agreements lay down the ceilings on tax rates applicable to different types of income arising in Pakistan. They also…

FAQs, Pakistan Taxation

In Lawyers we Trust

June 3, 2010 masood No Comments

A defense attorney was cross-examining a police officer during a murder trial – it went like this: Q. Officer, did you see my client fleeing the scene? A. No sir, but I subsequently observed a person matching the description of the offender running several blocks away. Q. Officer, who provided this description? A. The officer…

COPYRIGHT REGISTRATION IN PAKISTAN

June 3, 2010 masood 16,274 Comments

COPYRIGHT REGISTRATION IN PAKISTAN Before we explain, the procedure and requirements for copyright registration in Pakistan, it is essential to understand what a copyright actually is? Copyright is literally, the right to copy, though in legal terms “the right to control copying” is more accurate. Copyright are exclusive statutory rights to exercise control over copying…

What are the Federal Taxes Applicable in Pakistan?

June 3, 2010 masood 2 Comments

Following are major taxes collected vide law and legislation levied by the Pakistan Federal government. Federal Government Taxes: Income Tax Super Tax Wealth Tax Gift tax Turnover Tax Corporate Asset Tax Corporate Income Tax (A) Import Duties Import Surcharge Export Duties Iqra Surcharge Income Tax on imports Import Licence Fee Import Registration Fee Export Registration Fee…

FAQs, Pakistan Taxation

Hotel/Restraunt Registration and Taxation Law in Pakistan

June 3, 2010 masood 28 Comments

Hotel/Restraunt Registration is mandatory for a food supplier in order to commence business in Pakistan. In Pakistan Law relating to food items which may or may not be served in hotels and restraunts is administered under various statutes and rules.The Pakistan Hotels and Restaurants Act, 1976 and The Pakistan Hotels and Restaurants Rules, 1977 were incorporated for…

M&M Services

How can a company / person purchase /acquire a Real Estate in Pakistan Law?

June 3, 2010 masood No Comments

Purchasing a real estate in Pakistan can be atricky process due to lack of a standardised system,therefore, a complete and thorough search in respect of title of the seller to the real estate must be carried out. A general practice is to investigate title of the current vendor and any previous owner(s) for the last…

FAQs, Real Estate

Sole Trader/Sole Proprietorship in Pakistan

June 3, 2010 masood 63 Comments

WHAT IS A SOLE TRADER? A sole proprietorship also known as a sole trader/sole owner, or simply proprietorship is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. All profits and all losses accrue to the sole owner…

Business Formations, M&M Services, Sole Trader / Proprieter

What is Capital Value Tax in Pakistan?

June 3, 2010 masood 12 Comments

Capital Value Tax on Real Estate Related Transactions in Pakistan A Capital value tax at the rate of 2 percent of recorded value has been levied vide Finance Act, 2006. This is applicable in urban areas for residential property exceeding an area of one kanal and in case of commercial properties without any threshold of…

FAQs, Pakistan Taxation, Real Estate