Tax news, SECP updates & short guides

The Rs 600,001–1,200,000 bracket dropped from 5% to 2.5%, and the Rs 1,200,001–2,200,000 bracket dropped from 15% to 11%. The Rs 600,000 annual exemption threshold is unchanged. A 9% surcharge still applies where annual taxable income exceeds Rs 10,000,000. Use our tax calculator to see what this means for your take-home pay.

The government has moved the former PSEB registration framework to the new "Tech Destination Pakistan" portal. Existing registrants need their profile re-verified on the new system to keep their active status and the 0.25% final-tax rate on export proceeds under Section 154A (versus 1% for unregistered exporters). We handle the migration as part of our Freelancer / IT Export package.

Companies with share capital file Form A; companies limited by guarantee without share capital file Form B. Both are due within 30 days of your Annual General Meeting, which itself must be held within 120 days of your financial year-end. Missing the window triggers a per-day penalty on the officers in default — we track your AGM date and file automatically.

Filing by September 30 keeps you an Active Filer for the year. Filing after the deadline still gets you onto the ATL as a Late Filer once you pay the prescribed surcharge — but non-filers pay the highest withholding rates on banking, property, and vehicle transactions. If you've missed previous years, don't file them all at once without review; multi-year filings can trigger a wealth-reconciliation audit if asset changes aren't properly explained.

SRB (Sindh) charges a standard 15% on services, rising to 19.5% for telecom. PRA (Punjab) charges a standard 16%, also 19.5% for telecom. A business serving clients in both provinces may need separate registrations and separate monthly returns with each authority — get the province wrong on an invoice and you've applied the wrong tax entirely.

For a Private Limited or SMC: CNICs of all directors/shareholders, three proposed company names in order of preference, a registered office address, and a description of your principal business activity. Foreign directors need passport copies and additional security-clearance documentation. Having these ready before your consultation cuts our typical registration time roughly in half.