How recent amendments in laws affect “Non-Profit Organizations”? on December 29, 2020There are many countries in the world where the citizens are generous in making contributions for charitable purposes. Fortunately, Pakistan is one amongst them, where people not only volunteer themselves for charitable works but also give hefty donations for such types of activities. To operate more in a regulated manner, the like-minded persons join hands […]
The construction package – an in depth analysis on September 22, 2020Where COVID-19 has created a lot of challenge for the industries to survive, it has at the same time threaten the economy of all the countries around the globe. The need for the state to keep its wheel of economy running under the locked down situations besides protecting the employment of the citizen is really […]
Income Tax — Fixing the Loopholes on June 9, 2020Taxes are the primary source for the developing states to make their economy run so is the case with Pakistan. The dependency of Pakistan’s revenue on taxes is around 86 per cent, which includes both direct and indirect taxes. Generally, besides the revenue objectives of the state, taxes are imposed to counter the effects of […]
Taxing the digital economy in Pakistan on May 29, 2020When the world is transforming gradually into a digital economy, disregarding the brick-and-Mortar presence, with the physical assets rapidly moving to digital ones, it is the time when a developing country like Pakistan should start reevaluating the existing taxation laws by taxing the digital economy in the form of imposing Digital Service Tax [DST]. The […]
Taxation issues being faced by service sector on May 12, 2020The persons rendering services have remained subject to taxation since beginning as this sector have been considered as generating significant revenues and earning high income from business. The Income Tax Ordinance, 2001 [the Ordinance] have taxed the income at source under section 153 of the Ordinance, where the prescribed persons making payments for services are […]