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MASOOD & MASOOD

MASOOD & MASOOD

(Corporate, Tax & Legal Consultants) – Pakistan Based Law Firm

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Tag: Money Talks

What is the process to sell Real Estate in Pakistan Law?

Posted on June 3, 2010 By masood 1 Comment on What is the process to sell Real Estate in Pakistan Law?

Sale of real estate in Pakistan normally takes place through a title document known as a Sale Deed, except in certain cases e.g. purchase of real estate in Defence Housing Authority (DHA) or in a housing society where sale deed is not executed for transfer of title in real estate and an allotment letter/transfer letter…

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FAQs, Real Estate

Contingent Professional Fee!

Posted on June 3, 2010 By masood 1 Comment on Contingent Professional Fee!

Client asks his lawyer that “what does contingent professional fee means?”, lawyer answers, “A contingent professional  fee to a lawyer means, if I lose your suit, I get nothing. BUT If I do win it, you get nothing”

A Taste of Humour, Money Talks

Income Tax

Posted on June 3, 2010 By masood No Comments on Income Tax

Income Tax in Pakistan is one of the top most contributors to Tax income of government of Pakistan. Many changes in taxation has been introduced to promote income tax registered persons as opposed to non-registered persons.   Taxation according to a person’s ability to pay is universally accepted principle, and income is considered a satisfactory though not…

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Pakistan Taxation Law

What is the Law for Leases (LandLord & Tenant Law) In Pakistan?

Posted on June 3, 2010 By masood 2 Comments on What is the Law for Leases (LandLord & Tenant Law) In Pakistan?

Law for the Landlord Landlord must ensure that lease of an immovable property is executed in writing. Lease of immovable property for a period of less than a year does not require compulsory registration. However, lease of immovable property for a period of more than a year must be registered. If the tenant refuses to…

Read More “What is the Law for Leases (LandLord & Tenant Law) In Pakistan?” »

FAQs, Real Estate

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

Posted on June 3, 2010 By masood 1 Comment on Is there any Federal Excise Duty and/or special excise duty in Pakistan Law?

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…

Read More “Is there any Federal Excise Duty and/or special excise duty in Pakistan Law?” »

FAQs, Pakistan Taxation

How to do Foreign Investment in pakistan?

Posted on June 3, 2010 By masood No Comments on How to do Foreign Investment in pakistan?

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…

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

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

Posted on June 3, 2010 By masood 2 Comments on Has Pakistan entered into Agreement for Avoidance of Double Taxation with other countries?

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…

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FAQs, Pakistan Taxation

In Lawyers we Trust

Posted on June 3, 2010 By masood No Comments on In Lawyers we Trust

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…

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A Taste of Humour, Cross Examination

What are the Federal Taxes Applicable in Pakistan?

Posted on June 3, 2010 By masood 2 Comments on What are the Federal Taxes Applicable in Pakistan?

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…

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FAQs, Pakistan Taxation

Hotel/Restraunt Registration and Taxation Law in Pakistan

Posted on June 3, 2010 By masood 26 Comments on Hotel/Restraunt Registration and Taxation Law in Pakistan

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…

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