Jun 28

Illegal trading of currency, gold to be liable for imprisonment up to 14 years

KARACHI: Passengers or crew members found involved in illegal trading of currency, gold or precious stones to be convicted with up to 14 years imprisonment along with huge amount of fine and penalty. According to explanation by EY Ford Rhodes Chartered Accountants, at present any misdeclaration by any passenger or crew member is treated as […]

by Mrs. Anjum Shahnawaz

Minimum tax to apply on non-resident PE companies

Jun 28

Taxation

Minimum tax to apply on non-resident PE companies

KARACHI: The minimum tax on turnover has been proposed to impose on non-resident companies having permanent establishment (PE) in Pakistan. The amendment in Section 113 of the Income Tax Ordinance, 2001 has been proposed through Finance Bill, 2020. According to EY Ford Rhodes Chartered Accountants the Section 113 of the Ordinance levies minimum tax on […]

by Mrs. Anjum Shahnawaz