Nishtar & Zafar | Pakistan Law Firm | Tax, Corporate / Company Law, Energy Law, Telecommunication Law Specialist lawyers

GST to Rise by 1 Percent

The Finance Bill 2010 proposes to raise the General Sales Tax rate 1 percent to 17 percent. The proposal if enacted into law would come into force from July 1 17 percent. The proposal if enacted into law would come into force from July 1.

The Finance Bill 2010 proposes to raise the General Sales Tax rate 1 percent to 17 percent. The proposal if enacted into law would come into force from July 1 17 percent. The proposal if enacted into law would come into force from July 1.

Basic Income Tax Exemption Raised to Rs. 300,000

Pakistan’s proposed budget law seeks to raise the basic exemption from the income tax levy to Rs. 300,000 for all taxpayers. The current exemption is Rs 100,000 for non-salaried taxpayers, Rs. 200,000 for male salaried taxpayers and Rs. 260,000 for the female salaried taxpayers.

Pakistan’s proposed budget law seeks to raise the basic exemption from the income tax levy to Rs. 300,000 for all taxpayers. The current exemption is Rs 100,000 for non-salaried taxpayers, Rs. 200,000 for male salaried taxpayers and Rs. 260,000 for the female salaried taxpayers.

Gain on Equity Stocks to be Taxed

The Finance Bill 2010 seeks to levy capital gain tax on the gain from the sale of stocks within one year of their purchase at 10 percent if shares held for less than 6 months and 7.5 percent if shares held for more than six months but less than one year.

The Finance Bill 2010 seeks to levy capital gain tax on the gain from the sale of stocks within one year of their purchase at 10 percent if shares held for less than 6 months and 7.5 percent if shares held for more than six months but less than one year.

Sale of Cigarette Filter Rod Taxed @ Rupee 1

The budget proposes to impose Federal Excise Duty @ Rs. 1 per filter rod meant for using in cigarettes. The duty is imposed to bring into the tax net the unregistered persons engaged in the cigarette manufacturing

The budget proposes to impose Federal Excise Duty @ Rs. 1 per filter rod meant for using in cigarettes. The duty is imposed to bring into the tax net the unregistered persons engaged in the cigarette manufacturing

Companies to Get 5 Percent Tax Credit on Getting Listed

The closely held companies would get an income tax credit of 5 percent if the get listed on one or more stock exchange in Pakistan. The incentive would only be available in the year of such listing.

The closely held companies would get an income tax credit of 5 percent if the get listed on one or more stock exchange in Pakistan. The incentive would only be available in the year of such listing.

About Us

Our Philosophy

Nishtar & Zafar is a full-service law and consulting firm of Pakistan, which was established with a mission to help strengthen the legal culture in the country by promoting rule of law and by providing high-quality legal services to the quality-conscious individuals, organizations and businesses.

At Nishtar & Zafar we believe in developing ever-growing and profound relationships and endeavoring to provide the best possible legal advice and representation to serve the interests of the clients and the cause of justice in the most appropriate manner. We are committed to help you understand the legal framework in which you or your business works and but also to find you flexible and efficient solutions.

We try to fully understand the businesses of our clients to develop a real-life perspective, which helps us customizing solutions when a client needs our help in safeguarding his interests

Our Vision

At Nishtar & Zafar we envision to make the legal profession a focal point for a positive change in the society by helping the legal praternity assume the role of opinion leader and help the country steer through the exciting but challenging time that 21st century is and going to be.

Towards being catalysts of change brining about a strong professionalism within the legal profession's domain is our firat challege to prove outr mettle. While we feel duty bound to let our clients know the limits that a law imposes on them or their businesses, we equally commit ourselves to help them carve out a niche that serves their need without violating a statute or overstepping a code of ethics. We pride ourselves in finding our clients ways that help deals happen.

Our Strength

Having distinguished former members of the superior judiciary and officers of the civil service of Pakistan, we can rightly boasts of talent, experience, and robust networking. We keep an active liaison with the legal institutions and government authorities to keep our professionals abreast of the administrative and legal developments. It enables us to advise our clients proactively to get the best out of those developments. We also actively contribute in drafting of new laws and improving existing ones in an effort to make the legal system more responsive to the needs of the modern society and the business while seeking to ensure fair play and justice.

In addition to a good mix of talent and experience, we are also proud to have a command on harnessing new technologies to keep ourselves up-to-date on administrative, legal, and professional developments on one hand and to deliver our services in time-efficient and cost-effective manners on the other.

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Pakistan Finance Bill 2010

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