Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances, otherwise known as an exclusion. Tax exemption also refers to removal from taxation of a particular item rather than a deduction.
Our consulting specialists deal with the exemptions under different provisions of taxation which are given below:
- Deduction of taxation against payments of supplies.
- Deduction of taxation against profit on debts
- Payments to non-residence (Foreign Investors)
- Payments on foreign produce content
- Deduction of withholding tax against export proceeds
- Specific exemptions from petroleum products
- Collection of advance taxation
- Cash withdrawal’s
- Electricity consumption
- Generic exemption of telephone bills, mobile bills, internet bills etc.
- Advance tax on retailers and distributors
- Rental of machinery and equipment’s
- Not for profits organizations- from total income under 100C of Income Tax Ordinance, 2001
- Provident Fund, Gratuity Fund, Separate Annuity Fund and Pension Fund
- Tax clearance certificate from FBR for persons going abroad
We would be delighted to discuss how we can help you, and your group or company. Please get in touch and contact MHSS at firstname.lastname@example.org or alternatively, contact our office directly.