A.S Accounts/Tax advisors

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The Federal Board of Revenue (FBR) has imposed restrictions on tax recovery through bank account attachments, following a notice by the Islamabad High Court (IHC) regarding violations of its earlier order.

As per directives issued by the FBR, field formations cannot initiate recovery under Section 140 of the Income Tax Ordinance 2001 without prior approval from a committee headed by the Chief Commissioner Inland Revenue.

The latest directives come after the IHC took notice of the FBR constantly violating its order passed in 2016 in the Pakistan LNG case, restraining tax recovery through coercive means.



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📢 Attention, Valued Clients! 📢

🚨 September 30th is the LAST day to file your tax return. 🚨

💡 Why file early?
1️⃣ Avoid penalties & interest
2️⃣ Get refunds faster
3️⃣ Plan for tax savings
4️⃣ Minimize stress
5️⃣ Ensure accuracy
6️⃣ Enjoy peace of mind

We're here to help you! Don't wait – act now! 💼💰

1-Tax credits for investment in certain sectors: The government of Pakistan offers tax credits for investments made in various sectors, such as information technology, energy, and agriculture. These tax credits can be used to offset income tax liabilities.

2-Tax exemptions for certain income sources: Certain types of income are exempt from income tax in Pakistan, such as income from agriculture and income from export of IT services.

3-Tax rebates for charitable donations: Taxpayers in Pakistan can claim tax rebates for donations made to registered charitable organizations, subject to certain limits.

4-Depreciation allowances: Taxpayers can claim depreciation allowances for assets used in their business, which can help to reduce their taxable income.

5-Tax deductions for medical expenses: Taxpayers can deduct certain medical expenses, such as expenses for hospitalization, from their taxable income.

"Today's dollar rate in Pakistan is 281.85 PKR. This means that it now costs 281.85 Pakistani Rupees to buy one US Dollar. The exchange rate can be affected by various factors, including global economic conditions and political events. It's important to stay informed about exchange rates if you plan to travel or do business internationally. Remember to always use reputable exchange services and stay safe!"

Did you know that there are many tax benefits available in Pakistan?

As a taxpayer, you may be eligible for tax deductions, exemptions, and credits that can help reduce your tax liability. From medical expenses to charitable donations, there are many ways to take advantage of these benefits and keep more money in your pocket.

Contact a tax professional to learn more about the tax benefits that may be available to you!

If you can find all your things under one roof then Why not Us?

Contact +92 304 1490 875
A.S Tax Advisors

"Pakistan Increases GST to 18%: A Burden for the Poor?"

The Pakistani government has increased the General Sales Tax (GST) from 17% to 18%, causing concerns among the country's poor population. While the move is aimed at generating additional revenue and supporting economic development, it is important to consider its impact on those who are already struggling to make ends meet.

The increase in GST is likely to have a greater impact on the poor, who often spend a larger percentage of their income on essential goods and services. With the increased tax rate, prices of basic necessities such as food, medicine, and clothing are expected to rise, making it even more difficult for the poor to meet their daily needs.

It is important for the government to take steps to alleviate the burden on the poor, such as providing targeted assistance programs or exempting certain essential goods from the increased tax rate. The government can also explore alternative sources of revenue to fund public projects and programs, rather than relying solely on increasing the GST.

In conclusion, while the increase in GST from 17% to 18% in Pakistan is aimed at supporting the country's economic development, it is important to consider its impact on the poor. The government should take steps to ensure that the burden is not disproportionately borne by those who are already struggling, and work towards creating a more equitable society.

We would like to extend our sincerest appreciation to all of our clients who have recently completed their tax returns with A.S Tax Advisors. We are grateful for your trust in us to ensure the accuracy of your returns. Your ongoing support is greatly appreciated and we look forward to continuing to provide you with the highest level of service. Thank you for your continued patronage!

1. Tax Exemptions and Rebates:

The most significant benefit of filing tax returns in Pakistan is the various exemptions and rebates available. These exemptions and rebates are available on income tax, sales tax and federal excise duty. Some of the most popular exemptions and rebates include:

2. Reduced Tax Liability:

Filing tax returns can also help reduce your overall tax liability. This is because certain deductions and exemptions can be claimed on your income, which can reduce your taxable income and thereby the amount of tax you have to pay.

3. Increase in Credit Standing:

Filing taxes can also help improve your credit standing. When you file your taxes on time, it is seen as an indication of responsibility, which can help you build a good credit score. This can be beneficial when you are applying for loans or credit cards.

4. Increase in Savings:

Filing taxes can also help you save money in the long run. For example, if you are entitled to certain deductions or exemptions, you can use this to reduce your taxable income and thereby save money on the amount of tax you have to pay.

5. Availing Government Benefits:

Filing tax returns can also help you avail certain government benefits. These benefits may include certain subsidies and deductions on taxes, or other types of government assistance. These benefits can be availed only if you file your taxes on time.

Assalam u alaikum everyone!

Thank you for taking the time to join us today as we present our Tax Filing firm. We understand that the process of filing taxes in Pakistan can be confusing and time consuming. That is why we are here to make the process easier for you!

We will provide you with the necessary information and help you understand the process of filing taxes in Pakistan. We will help you understand the different types of taxes, the deductions you can make and how to maximize your deductions. We will also make sure that you are up to date on the latest tax laws and regulations in Pakistan.

We will also provide you with assistance in the form of filing your taxes. We can help you fill out the necessary forms, submit them to the government and make sure that your tax return is accurate and up to date. We will also provide you with any answers you need and help you understand the process of filing taxes.

Finally, we will also help you with any tax-related questions you may have. We are well versed in the Pakistani tax system and can help you understand the different aspects of taxation in Pakistan. We can provide you with answers to any questions you may have and can make sure that you understand the process of filing taxes

For any queries, feel free to ask any question

A.S Tax Advisors

+92-3041490875