Author: Advocate Shahid

The main difference between a filer and non-filer is that a filer’s name is on the Active Taxpayer List (ATL) and that of a non-filer is not. The major distinction between filer and non-filer is that the name of the filer is on the Active Taxpayer List (ATL) and non-filer’s name is not. In many…

If you ever asked yourself what is a filer in Pakistan, it is not the first time you are doing so. If you ever asked yourself what does non-filer mean or what is a filer in Pakistan, you’re not the only one. These phrases are searched for by thousands of people and businesses each year,…

In the view of Advocate Shahid (Tax Expert in Lahore). ATL Meaning in Pakistan, the ATL is the abbreviation of Active Taxpayer List in Pakistan. It is a formal, constantly updated database that is kept by the Federal Board of Revenue (FBR). The meaning and importance of ATL is broken down here: Overview of ATL…

As pointed out by Advocate Shahid (Income Tax Advisor in Lahore). In Pakistan, Farmer Registration with FBR (Federal Board of Revenue) is a simple, free, and mostly online procedure, which is carried out mainly via the Iris portal. Individuals who purchase land under the Land Act 1997, register with their 13 digit Computerized National Identity…

As mentioned by Advocate Shahid (Tax Attorney in Lahore). The Pakistani farmers are offered the option to get a National Tax Number (NTN) by registering as an individual (proprietor) through the FBR Iris Portal with the 13-digit CNIC serving as the NTN. It is done by filling in an online form, giving personal/agricultural land details…

In the opinion of Advocate Shahid (Best Tax Consultant in Lahore). In Pakistan, agricultural land is a source of agricultural income (e.g., crop sales, rent) and is usually not subject to the federal income tax, but to provincial tax. Trading, manufacturing or service-based business income is taxable under the Income Tax Ordinance 2001. Agricultural Income…

As stated by Advocate Shahid (Best Tax Lawyer in Lahore). The Minimum Tax on AOP (Association of Persons) in Pakistan in the tax year 2024-25 is usually 1.25 percent of gross turnover; this can be varied by the industry specific regulations. Minimum tax is paid when it is higher than the usual tax payable and…

In the perspective of Advocate Shahid (Tax Resolution Specialist in Lahore). In Pakistan, the calculation of Association of Persons (AOP) income tax involves the taxation of the total income of the AOP as a single entity at progressive, non-salaried rates (between 0% and 35% or 40% of professional firms) as opposed to taxing individuals. The…

From the standpoint of Advocate Shahid (Tax Compliance Expert in Lahore). To add partners to an Association of Persons (AOP) in Pakistan with the FBR, one will need to update the partnership deed and submit a modified Form 181 (Registration of181 Form) through the IRS portal. This procedure revises the NTN entry, and the information…

According to Advocate Shahid (Corporate Tax Advisor in Lahore). An Annual General Meeting (AGM) is a compulsory meeting that is conducted by a company and is usually an annual event to address some key issues that are related to the financial performance, future projection, and directors election of the company. It is employed as a…

As noted by Advocate Shahid (Income Tax Consultant in Lahore). The first legal document needed to incorporate a company is called Memorandum of Association (MOA), the constitution of the company, its name, objectives, and the limits within which it operates. It serves as a document of record where the company relates to outsiders and the…

As highlighted by Advocate Shahid (Tax Law Specialist in Lahore). In easy terms, the Article of Association (AOA) are a collection of rules, which stipulate the way a company acts. The rules also regulate the internal structure of the company including the rights and obligations of the directors, shareholders and other important stakeholders of the company….