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TAXATION PAKISTAN:

Taxation Services in Pakistan:

Grey House consists of a team of fully qualified chartered accountants with complete expertise and knowledge in taxation and provides complete Advice on tax-related matters and complete services for Taxation in Pakistan and All FBR-related services i.e., income tax, sales tax, withholding tax.

  1. Filling of the income tax return for individuals and companies (Complete assessment)
  2. Sales Tax registration and monthly Filling
  3. Monthly withholding tax calculations and payments
  • Tax Year in Pakistan:

The tax year is a period of twelve months ending on 30th June and shall be denoted by the calendar year in which the said date falls.

  • Taxable Income in Pakistan

It is the total income of a person for a tax year reduced by the total of any deductible allowances, under the Ordinance, for the year. A person is entitled to a deductible allowance for the amount of any Zakat paid by the person in a tax year under the Zakat & Ushr Ordinance, 1980.

  • Total Income

It is the sum of a person’s income under each of the heads of income for the year.

  • Heads of Income in Pakistan

Under the Ordinance income is classified into the following five heads:

Salary, Income from property, Income from business, Capital gains, and Income from other sources.

The income of a person under a head of income shall be the total of the amount derived by the person in a tax year that is chargeable to tax under the head as reduced by the total deductions allowed under the ordinance to the person under that head.

  • Capital Value Tax (CVT) in Pakistan

CVT is payable by individuals, firms, and companies which acquire an asset by purchase or a right to use for more than 20 years. It is also payable on import of motor vehicles.

  • Workers Welfare Fund (WWF) in Pakistan

WWF is levied at 2% of a company’s income exceeding Rs.200,000.

  • Corporate Asset Tax (CAT) in Pakistan

Levied through section 12 of the Finance Act, 1991 it is the one-time levy payable by a company on the value of fixed assets held by the company on the “specified date”.

  • Relevant Income Tax Legislation in Pakistan

Income Tax Ordinance, 2001

Income Tax Rules, 2002

TAXATION IN UK

Let us assist with your UK taxes

UK tax returns, planning & compliance

At Greyhouse consultancy we deliver UK tax services to private clients, high-net-worth individuals, directors, property/landowners, and those with complex tax setups. We specialize in the preparation of tax returns for both UK residents and non-residents including, those that are not the UK domiciled. We see the process of filing a tax return as more than a means to meet your filing obligations but a chance to review your assets and investments and assess their tax efficiency.

Best in Class Tax Services

We’re ideally placed to review your personal tax affairs to ensure you meet all your compliance requirements as well as recommend ways to reduce your liability to Income Tax, Capital Gains Tax, and Inheritance Tax. We pride ourselves on being proactive for our clients; providing a range of tax services, from simple year-end planning, helping entrepreneurs in establishing the best entity through which to trade to complex estate and remittance planning.

We can provide specialist non-UK domicile tax planning to assist in effectively shielding their offshore income as well as helping them bring money from offshore to the UK in the most tax-efficient manner. We will help you to understand the rules around monies held offshore, the definition of remittance, and how to make the most of your planning opportunities.

Taxation of those not domiciled in the UK (non-doms)

We act as specialist tax advisors for those who consider themselves domiciled outside of the UK. Our team will help you to understand your obligations and how to file a tax return if you wish to make a claim for the remittance basis and shield your overseas income and gains from tax.

We can assist individuals in considering their domicile, deciding whether they can claim the remittance basis or automatically qualify, and for those long-term residents establish whether it is beneficial to pay the remittance basis charge. From 6 April 2017, there are new rules on becoming deemed the UK domiciled, rebasing, and potentially advantageous foreign trust rules.

Where it is more beneficial to file on the arising basis, our experience of UK domiciled taxation allows us to understand the complications of reporting foreign income and gains. In particular, the impact of offshore investment accounts, foreign funds, partnerships and companies, foreign trusts.

 

We can help with

  • Private client and personal tax advice
  • Tax returns, compliance, and planning
  • Inheritance tax and family wealth management
  • Trusts and estates
  • Domicile and residency filings
  • Personal tax investigations
  • Speak to the experts. Get in touch today to find out more about our UK tax services and how we can help with your tax needs.

 Documents Required for Filing:

FOR INDIVIDUALS:

  • P60 for Salaried Individual.
  • P45 from Previous Employer (If switched job).
  • P11D
  • Bank Statement for the Tax Year (6th April to 5Th April).
  • Any Other Income Received, e.g (Rental or Part-time earnings).
  • Mortgage Statement if applicable.
  • Asset Purchased or leased, like a car than its CO2 emission (purchase price) details

For Corporate Tax Filing:

  • Financial Records.
  • Receipts and Payments details.
  • (The deadline for a tax return is 12 months after the end of the accounting period it covers).

For VAT Filing:

  • VAT Scheme.
  • VAT Quarters.
  • Receipts and Payments details.

The deadline for submitting the return online and paying HMRC is usually the same – 1 calendar month and 7 days after the end of an accounting period.

TAXATION IN QATAR

In a world in constant fllux, ruled by regulatory complexity and ­lled with economic risk, Grey House Tax and

Legal Services cuts through the noise and helps you stay ahead of the changes that impact your business.

Understanding and deciding how to set up a business in the country can be daunting. With the

onset of the Direct taxation, GST, Value Added Tax (VAT) and other taxes likely, navigating the

regulatory and tax landscapes both here and abroad can be complex.

At Grey House, our highly skilled and experienced professionals work with clients to

develop corporate structuring and tax strategies, which provide confidence and

reassurance that their businesses are not only compliant, but also prepared for

future developments in tax regulation.

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