Tag: Pakistan Speaks
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…
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…
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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…
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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…
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…
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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What is Capital Value Tax in Pakistan?
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…
Real Estate / Property Registration and Taxation Implications in Pakistan
WHAT IS PROPERTY/REAL ESTATE LAW? Property law is the area of law that governs the various form of ownership in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. In the civil law system, there is a division between movable and immovable property. Movable…
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What is the Process of Trademark Registration in Pakistan?
Following are the Steps for trademark registration in pakistan: Search before filing of Application. Filing of Application. Preliminary Examination. Final order for Publication. Printing in Trademarks Journal. Opposition Procedure. Issuance of Registration Certificate. Renewal of the Registration. Post Registration matters. Rectification Procedure.