Non-resident companies: FBR issues separate procedures/conditions
The Federal Board of Revenue (FBR) has made it mandatory for non-resident companies (having no Permanent Establishment in Pakistan) to be registered to provide tax registration or incorporation document from relevant regulatory authorities of the foreign country.
Wheeling of electricity: Nepra approves regulations
National Electric Power Regulatory Authority (Nepra) has approved regulations for wheeling of electricity aimed at improving and opening up power sector and promote competition.
Excessive tax deducted from non-filers: law may be amended to allow adjustment
To practically facilitate the non-filers and encourage documentation, Section 169 of the Income Tax Ordinance, 2001 has been proposed to be amended through Finance Bill 2016 to allow adjustment of excessive tax deducted from non-filers.
Business Interruption Insurance and COVID-19: are businesses covered?
The COVID-19 pandemic, and the ensuing lockdowns and restrictions on movement, have caused unplanned business closures and supply chain disruptions worldwide. Businesses face cashflow constraints due to unsold inventories and mounting receivables, imperilling their ability to continue operations.
