Accounting Mistakes That Will Harm Your Business
Small businesses frequently tend to handle their own accounting to commence with. This can be to save a few bucks or because the volume business activity is small. Accounting is much more than a merely calculator work, and when an error arises, it can cost the business significantly. Making a mess of the numbers can […]
FBR ANNOUNCES WITHHOLDING TAX RATES ON IMPORTS FOR 2025-26
The Federal Board of Revenue (FBR) has officially released the updated withholding tax rates applicable on imports for the tax year 2025-26. These rates have been notified under Section 148 of the Income Tax Ordinance, 2001 (as amended), and provide a comprehensive framework for determining the tax liability on goods brought into Pakistan. The new […]
Comparison Filer vs. Non-Filer Tax Rates (2025-26)
Transactions Filer Non-Filer 1. Cash Withdrawal – Bank exceeding Rs. 50,000 (u/s 231-AB) 0% 0.8% 2. Tax on Saving Account Profit (u/s 150) 20% 40% 3. International transaction via Debit/ Credit Card (u/s 236 Y) 5% 10% 4. Prize Bond (u/s 156) 15% 30% 5. Lottery and Winnings (u/s 156) 20% 40% 6. Tax […]
FBR ISSUES TAX RATE ON DEEMED PROPERTY INCOME FOR 2025-26
The Federal Board of Revenue (FBR) has officially released the tax rate applicable to deemed property income for the tax year 2025–26, continuing the government’s policy of discouraging the use of idle assets and broadening the tax base. Under the recently updated Income Tax Ordinance, 2001, deemed property income is taxed at a flat rate […]
Vital signals that you need an accountant for your small business
There’s so much to think about, for an owner while running a small business (up to PKR 250M, up to 50M equity) which he can’t do alone forever. For one thing, handling the financial side of the business is a full-time job in itself and one really can’t afford to take his foot off of […]
The key to small business success
Top 5 pieces of advice an accounting expert can provide There’s never enough time! Ever feel like you’re drowning in a sea of deadlines? Starting a small business is exciting, but the to-do list is endless and the day to day challenges can be nerve wracking! It’s typical to wish there were more hours in […]
Recordkeeping Tips for Small Business Owners
The key to avoiding headaches at tax time (both income and sales taxes) is keeping track of your receipts, expenses and other records throughout the year. Whether you use an accounting application, or even manual, good record-keeping will help you remember the various transactions you made during the year. Records help you document the deductions […]
From trust to trustworthiness: Shifting beyond a compliance mondset
From trust to trustworthiness: Shifting beyond a compliance mindset BY: Matt Finnis Amid a flurry of recent incidents involving poor business practices of large corporations, trust in organizations is at a low ebb. Here’s how to implement authentic and lasting change to rebuild and keep your clients’ trust. It may be just the […]
How to build an investment strategy that works for you
How to build an investment strategy that works for you BY: Helen Baker The world of investing contains a plethora of options, but only by understanding their pros and cons can you build a personalized investment strategy that will help secure your long-term financial prosperity. Contrary to what you might have learned in your […]
Navigating Financial Challenges: How Expert Advice Helps Your Business Thrive
Navigating Financial Challenges: How Expert Advice Helps Your Business Thrive Gaudit 27 March, 2023 Share Every business faces financial challenges, whether it’s managing cash flow, dealing with tax obligations, or making strategic investments. The difference between thriving and merely surviving often lies in the advice you receive. At Awais Fawad and Associates, we specialize in […]
