Finance Act Main
Highlights 2015
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.
Finance Act Main Highlights 2015
:: Finance Bill has been passed as Act without any change, effective from July 1, 2015
⊙ Non Filers to pay 0.6% Tax on every banking transaction
⊙ Dividend tax rate @12.5% (17.5%)
⊙ Income exceeding Rs.500M to pay Super tax @3%
⊙ Public companies not paying Dividend from current profits, exceeding paid up capital to pay 10% tax on exceeding amount.
⊙ Non Filer to pay @17.5% on profit on debt exceeding Rs.500K
⊙ Non Filer rates in case of Supplies, Services and Contracts
⊙ Electronic n Print Media exemption from withholding withdrawn
⊙ Tax exemptions for;
* Renewable Energy Production Setup
* Halal Meat Industrial Production Setup
* Warehouse, Cold storage for Agri Produce
* Industrial set up in KPK
⊙ Extra Sales Tax @2% for supplies to Non Registered Person
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.
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