Why do you need our business valuation services in Pakistan?

November 7, 2019

If you cannot measure an asset, doubt its worth. Business valuation is useful in:  I. Mergers and acquisitions  II. Acting as Magnet for investors  III. Decision-making tool  IV. Easier loan approval  V. Making Company restructuring  VI. Evaluating realizable worth  VII. Succession planning in family businesses

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Arshad Law Associates rebut Indian propaganda on Kashmir

September 4, 2019

https://www.project-syndicate.org/commentary/jammu-kashmir-special-status-india-pakistan-china-terrorism-by-brahma-chellaney-2019-08 Rebuttal in the form of comments published on the website on the article: If anybody wants to see an example of propaganda, one can read this article of Brahma. The facts are completely and shamelessly distorted. Pakistan offered all the UN sponsored delegates to its area while India is denying it. The issue of Kashmir is as old as the creation of Pakistan and India as independent states. The issue is yet to be resolved in the light of resolutions of the UNSC. Brahma is trying to convey that the whole world is fool because they misunderstood the issue while passing resolutions in the UNSC. Arrogance flows from every word of the article as it was flowing from every speech of Modi. Repeal of the Articles 370 and 35A of the Indian Constitution with overwhelming majority of the Indian Parliament is irrelevant. It is not the internal issue of India, it is about the fate of unlucky 9 million people of whom 237,000 were killed by the Indian forces in 1948 and more 100,000 killed from 1998 onward. It is against the will of the people of Kashmir. What does Pakistan want? Does Pakistan want to annex it? No. Pakistan wants that the people of Kashmir (Hindus or Muslims or others) should be given the right of plebiscite to determine their own future course of action i.e. whether they want to remain with Pakistan, India or as independent state. If Scotland can have such referendum, why not Kashmir- Kashmirs were promised this right by the UNSC and the first Prime Minister of India.India has suspended all fundamental rights of the people of Kashmir. There is curfew in illegally and unlawfully occupied Kashmir region by India for the last 30 days. If it were in benefit of Kashmiris, were there any need of this curfew? Recent reports of atrocities of brutal , and savage Indian armed forces, aired by BBC in the current week has shown the real face of Indian government and demolishes all the arguments of Brahma.European Community has also raised voice against the torture being committed by Indian forces in Kashmir. OIC did it vociferously for more than once. Brahma is trying to prove all of them wrong but in fact he is the only one here who is not only wrong but is also a part of the wrong. I think Project-Syndicate should not allow articles like Brahma’s which are making mockery of human rights and telling lies. We expect logic and arguments with objectivity here, and not mouthpieces of dictatorial regimes like that of Modi, commonly known as the Butcher of Gujarat in Indo-Pak subcontinent. As regards, situation in Pakistan, Pakistan has never refused access to Pakistani Kashmir. If Brahma wants to come and see the reality, he is also welcome but he should be an ambassador of truth and not of falsehood. [ We hosted Indian pilot who came to bombard us and in fact did it in Pakistan. That is hospitality of Pakistan even for her enemies. ] Brahma will see that Pakistani side Kashmir is peaceful and flourishing and autonomous. Pakistani Kashmir […]

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Do you want that banks do not deduct tax when you withdraw cash from your account?

March 24, 2019

Bankers deduct tax when you withdraw cash from your bank account because you are not a filer. Then why not become a filer? Still to save your hard earned money. File your income tax return for the tax year 2018 by 31 March 2019 to become a filer. Then the banks will not deduct tax on cash withdrawals. [If you do not want to become filer, then limit your cash withdrawals to Rs. 50,000 a day. But it is not a smart choice because you will have to pay many other withholding taxes at a higher rate as compared to those applicable to filers.]

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Tax (non-)compliance behaviour – Socio-psychological dimensions

November 25, 2018

By Muhammad Arshad Advocate High Court, FCCA Taxation is as old as civilisation. In a democratic society, tax is levied by the people (through their chosen parliament), on the people (and their property and businesses), and for the people. Taxation without representation was termed as tyranny by James Otis as back as in 1761. Within the perimeter of this undisputed principle, there are many issues which continuously pester both the fiscal policy makers and the taxpayers. Tax potential, tax gap and the process of tax collection are these days widely discussed and hotly debated. In Pakistan, reliance of the successive governments on regressive indirect taxes to fill the government kitty juxtaposed with poor delivery of services to the people has made taxation a painful topic for the middle income households and a bitter pill for the majority of the businesses of the country. The current situation has to change and change drastically for the better by putting the house in order both at national level and household level. This article focuses at some dimensions of the problem of widening tax gap between the tax potential and actual tax yield in the country. After forcing almost every business to act as an unpaid tax collector of the Federal Government, existence of tax gap is an interesting byzantine puzzle. No one can dispute that in theory Pakistan tax law is not a lax law. Why people do not pay taxes despite all these harsh provisions on the statute book? It has become a fashion with some writers to bash the nation for generating less taxpayers as compared to other countries. Others advocate vehemently that the tax potential at federal level alone is Rs. 8 trillion. One of the most prolific writers, Harlan Ellison has said: “You are not entitled to your opinion. You are entitled only to your informed opinion. No one is entitled to be ignorant.” His saying is more relevant for the opinion makers because otherwise they would be spreading disinformation and brewing wrong perceptions in the society. It is true that last year out of total population of 207 million, only around 1.5 million persons filed their tax returns. However, this figure represents filers of the tax returns (‘filers’) and not the taxpayers. Number of taxpayers in Pakistan is definitely more than 100 million (95 million being mobile phone users only before they were given a sigh of temporary relief by the apex court) paying taxes under one or more withholding taxes out of total 68 withholding taxes. As if this number were less, the Federal Board of Revenue (‘FBR’) in its year book for the fiscal year 2017-18 has hinted to find out more avenues for collecting taxes at source. As regards the tax potential of Rs. 8 trillion, several realities work against this target to be achieved in the next couple of years without hurting the economy badly. Even otherwise the nominal figure of tax collection figures should not be seen in isolation. Tax collection need to be viewed in its correct perspective so that is real quantitative and qualitative impacts on the economy and people are […]

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