Umair Ar Mughal 
The abbreviation FTR in Pakistan stands for either of the two very different things – one related to fiscal policy and the other – to a region. Depending on the context, FTR in Pakistan means either the Final Tax Regime or the Frontier Regions of the former Federally Administered Tribal Areas FATA. Both the FTRs … Read more
Every year we get asked the same question, about the same time, around when budget season rolls around – “what actually changed?” That’s our own quick summary of the Finance Act 2026-27, in the way we present it to our clients – not a copy of the FBR’s finance bill text, but an actual summary … Read more
Tax avoidance and tax evasion are often conflated, one is a legal right and the other is a punishable offense. Here’s how to legitimately minimize your tax liability in Pakistan without getting into the realm of criminality. Tax Avoidance vs. Tax Evasion Tax avoidance means arranging your affairs to claim legitimate deductions, credits, exemptions and … Read more
A “tax assessment” is FBR‘s determination of how much tax you owe for a given year — and understanding how it actually works (not the vague version) matters, because most assessments happen automatically and only become a problem if you don’t know what to check. Self-Assessment (Section 120) — The Default for Most Filers When … Read more
“Tax year” in Pakistan doesn’t always mean the calendar year you’d assume — and getting it wrong affects which return period your income actually falls into. What Is a Normal Tax Year Under Section 74 of the Income Tax Ordinance, a Normal Tax Year runs from July 1 to June 30 and is named after … Read more
Every year we get some version of “where does my tax money actually go” from clients — a fair question, and one worth answering honestly rather than with a vague civics-textbook answer. The Federal Consolidated Fund Tax revenue collected by FBR (income tax, sales tax, customs duty, federal excise) goes into the Federal Consolidated Fund, … Read more
A private limited company is the structure most growing businesses in Pakistan end up choosing, registered through SECP — limited liability for shareholders, easier access to investment, and a cleaner path to scaling. Here’s what registration actually involves through SECP. Step 1: Reserve Your Company Name Check name availability and reserve it through SECP’s online … Read more
A Public Limited Company is the right structure specifically when you need access to public capital markets — not just “a bigger version” of a Private Limited Company. What Makes Public Limited Different Unlike a Private Limited Company (2-50 shareholders, no public share trading), a Public Limited Company can offer shares to the general public … Read more
Receiving a notice from FBR can be intimidating — especially a Section 111(1) notice, which questions unexplained income or assets. This guide explains what the notice means, why you might receive one, and what to actually do about it. What Is a Section 111(1) Notice? Section 111(1) of the Income Tax Ordinance, 2001 empowers FBR … Read more
Notice to submit information on questionnaire by DNFBP as per AMLA/CFT – (Real Estate) NOTICE TO REGISTER UNDER SECTION 6A(2)(A) OF THE ANTI MONEY LAUNDERING ACT, 2010, READ WITH SRO 924(I)/2020 DATED 29TH SEPTEMBER, 2020. Whereas it has been ascertained that as per available record, you are liable to be registered as a Designated Non-Financial … Read more
