Non-resident companies: FBR issues separate procedures/conditions
The Federal Board of Revenue (FBR) has made it mandatory for non-resident companies (having no Permanent Establishment in Pakistan) to be registered to provide tax registration or incorporation document from relevant regulatory authorities of the foreign country.
Increasing tax revenues has proven to be a significant challenge for recent Pakistani governments. The stagnation of the tax to GDP ratio to around 10 percent has widely been attributed to a host of inter-connected factors including weak enforcement, fragmented revenue administrations, low compliance by taxpayers, generous and distortionary exemptions and concessions to entire sectors of the economy and narrow tax bases.
SETUP OPTIONS IN DUBAI – LIMITED LIABILITY COMPANY The LLC is the most popular onshore structure throughout the UAE. 51% of the share capital must be held by a UAE national or a company wholly owned by UAE nationals. Although not officially sanctioned by law, common practice for foreigners setting up LLCs is to enter […]