19/02/2020
Upgrade Yourself with Tax Laws while Getting a Professional Certification.👍
The Tax Laws (Second amendment) Ordinance 2019 has introduced significant amendments in the Income Tax Ordinance, 2001, Sales Tax Act, 1990 and Customs Act, 1969 which has been promulgated by the President of Pakistan on December 26, 2019 and comes into force at once.
These amendments were done to remove anomalies that had come on the surface in the aftermath of the last budget for 2019-20 and to comply with FATF requirements relating to money laundering and terrorist financing.
Keeping in view the importance of topic, The Professionals Academy of Commerce has prepared an on-demand training session on “The Tax Laws (2nd Amendment) Ordinance 2019”
TRAINER:
Mr. Bilal Azhar (ACA)
FEE:
Fee: For ICAP Members Rs. 2,000/-
For ICAP Trainee Student Rs. 1,500/-
For Other Professional Rs. 2,500/-
For Further Assistance, Please Feel Free to Contact;
Call: +92 301-8410225
Email: [email protected]
TABLE OF CONTENT:
SALES TAX:
⚈ Definition of Tier-1 retailer
⚈ Supply by registered manufacturer to sales tax registered person only
⚈ Penalty for violation of printing requirements of retail price
⚈ Penalty for violation of FBR integrated software
⚈ Greenfield industry definition
⚈ Rationalization of rate of imported cotton
⚈ Documentation of supplies from tax exempt areas
⚈ Amendment in 12th Schedule
⚈ Reduction in sales tax rates on mobile phones
⚈ 10th Schedule- Sales Tax on bricks
⚈ Exemptions and reduced rates
INCOME TAX:
⚈ Tax on foreign investment in Pakistan Capital market
⚈ Sharing of taxpayer’s information with financial monitoring unit (FMU)
⚈ Reduction in minimum tax rate for traders
⚈ Exemption from withholding tax as prescribed person to traders
⚈ Appointment of Appellate Tribunal
⚈ Green field industrial undertaking
⚈ Business Licence Scheme
⚈ Empowering FBR for closure of tax audit of persons automatically selected u/s 214D
⚈ Reduction in minimum tax for yarn traders
⚈ Director General of International tax operations
⚈ Exemption certificates on imports
⚈ Inter-corporate dividend in group companies
⚈ Reduction in withholding tax rates on import of mobiles
⚈ Non applicability of electricity bill withholding
⚈ Others