Fazal Mahmood & Company

About Tax

Audit & Reviews

  • Statutory / External audit
  • Special purpose audit (includes Donor Requested Audits),
  • Review,
  • Due Diligence,
  • Internal control audits according to national regulations & international standards
  • Agreed-upon procedures,
  • Compilation of reports,
  • Conducted Sales Tax Audits as appointed by the C.B.R / FBR (Federal Board of Revenue)
  • Firm has also been appointed by Securities and Exchange Commission of Pakistan as inspectors to conduct specialized investigative audits about the affairs of the companies.

About Tax

Our firm provides various services in relation to income tax for both individuals and companies, services include:

  • Tax Planning
  • Filling of Income Tax Returns
  • Tax Refunds

Our Experts help you with Tax all over the globe.

At FMC, Our team members are highly reputable professionals in taxation services sector. The team involved has extensive experience in handling:

  • Tax Advisory
  • Tax Practitioner
  • Tax Investigation
  • Other Taxation Services

Pakistan Taxation System

About Tax

The Central Board of Revenue (CBR) was created on April 01, 1924 through enactment of the Central Board of Revenue Act, 1924. In 1944, a full-fledged Revenue Division was created under the Ministry of Finance. After independence, this arrangement continued up to 31st August 1960 when on the recommendations of the Administrative Re-organization Committee, FBR was made an attached department of the Ministry of Finance. In 1974, further changes were made to streamline the organization and its functions. Consequently, the post of Chairman FBR was created with the status of ex-officio Additional Secretary and Secretary Finance was relieved of his duties as ex-officio Chairman of the FBR.  

In order to remove impediments in the exercise of administrative powers of a Secretary to the Government and effective formulation and implementation of fiscal policy measures, the status of FBR as a Revenue Division was restored under the Ministry of Finance on October 22, 1991. However, the Revenue Division was abolished in January 1995, and FBR reverted back to the pre-1991 position. The Revenue Division continues to exist since from December 01, 1998.

By the enactment of FBR Act 2007 in July 2007 the Central Board of Revenue has now become Federal Board of Revenue.

There are Variety of taxes that our team can assist you with:

  • Sales Tax (GST)
  • Income Tax (Corporate and Individual)
  • Federal Excise Tax
  • Customs

Tax Services in Pakistan and abroad

  • Tax Planning and Strategy Development
  • Tax Registration
  • Obtaining Confirmations, Clarifications and Permissions From the Tax Authorities
  • Conducting Tax Audits
  • Preparation and Filing Income Tax Returns
  • Preparation and Filing Various Tax Statements
  • Preparation and Payment of Electronic Challan
  • Finalization of Tax Audit and Undertaking Representations
  • Objections and Appeals

Services include obtaining Tax Exemptions for Clients in Pakistan

  • Approval as Non-Profit organization (NPO / NGO) under section 2(36) of the Income Tax Ordinance 2001.
  • Business exemption under clause 58 of the Second Schedule to the Income Tax Ordinance 2001.
  • Tax exemptions for educational institutions.
  • Other tax exemptions as applicable from client to client.

Tax Refunds

  • Tax Refunds are very important for our clients, therefore, we always give due diligence for claim of proper tax credits and taking refunds from tax authorities.

Downloads Section

The Sales Tax Act, 1990 (Download) Income Tax Ordinance, 2001 (Download) Federal Excise Act, 2005 (Download) Customs Act, 1969 (Download)
  • Tax Practitioner in Pakistan (Cover whole of Pakistan)
  • Tax Consultant in Pakistan (Cover whole of Pakistan)
  • We (jhi) provide Tax Consultancy for over 55 Countries
 
Fazal Mahmood and Company Chartered Accountants helps you with your taxes in Pakistan. Summary of Tax in Pakistan, latest changes in tax of Pakistan, tax calculator Pakistan. If you are a foreigner looking for advise on taxation matters, please don’t hesitate to contact us. 

Audit & Reviews

  • Statutory / External audit
  • Special purpose audit (includes Donor Requested Audits),
  • Review,
  • Due Diligence,
  • Internal control audits according to national regulations & international standards
  • Agreed-upon procedures,
  • Compilation of reports,
  • Conducted Sales Tax Audits as appointed by the C.B.R / FBR (Federal Board of Revenue)
  • Firm has also been appointed by Securities and Exchange Commission of Pakistan as inspectors to conduct specialized investigative audits about the affairs of the companies.

Navigation

  • Accounting and Financial Reporting

  • External Audit

  • Internal Audit

  • Fraud Investigation & Dispute Services 

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Navigation

  • About Tax

  • Tax Investigation

  • Income Tax & Related Services

  • Sales Tax (GST/VAT)

  • International Tax

  • Transaction Tax

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