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Tip #3: Plan for Your Upcoming Tax Payment Obligations Don't forget that both GST and Provisional Tax are due for payment on 15 January 2025. Missing the deadline may result in interest charges and late payment penalties from the IRD, so it's important to plan ahead and account for the cash flow required to make your payment on time. As always, we are here to help. If you need an instalment arrangement or extension put in place for the provisional tax or GST, please contact us as soon as possible at 04 970 1182. By addressing these matters early, we can work together to find a solution that best fits your circumstances. #AllAccountedFor #AAF #12DaysOfChristmas #BusinessAdvisory #SmallBusiness #BusinessSupport #CashFlowTips #HolidayBusinessPrep #HolidayCashFlow #BusinessFinanceTips #12DaysOfCashFlow #CashFlowPlanning

Quarterly tax planning is essential for avoiding financial surprises and ensuring smooth business operations. By proactively reviewing your tax obligations every quarter, you can prevent unexpected tax bills that disrupt your cash flow. Regular planning also helps spread out tax payments, making them more manageable and less stressful. Most importantly, staying on top of quarterly tax planning ensures compliance with all relevant deadlines, reducing the risk of penalties and fines. So what are you waiting for? Schedule your quarterly tax plan now with NOKAAF Auditors. Book Now: ☎: +971 52 7646955 📩: info@nokaaf.com #NOKAAF #DAXINGlobal #NOKAAFAuditors #BusinessAudit #QuarterlyTaxPlanning #TaxCompliance #CashFlowManagement #BusinessFinance

HOW TO REDUCE THE TAX BURDEN OF VAT and IRPC IN ALL SECTORS OF THE ECONOMY? ___ #irpc #iva #fr #lucroaccountabilistico #fracessoria

Government Introduced FORM GSTR-1A that is used for? 📄 FORM GSTR-1A is an optional form that allows taxpayers to add or amend particulars of a supply for the current tax period, which were either missed out or wrongly reported in FORM GSTR-1, before filing the GSTR-3B return for the said tax period. 📝 . Starting from August 2024, FORM GSTR-1A will be available to all taxpayers, enabling amendments to details furnished in FORM GSTR-1 for July 2024. 📅 . For regular GST updates, send “Hi” on WhatsApp to 9409041234 📲 and follow us GST Insight . 🚀 . #GST #AdvanceRuling #exportgst #exports #ITC #Loan #valuation #TaxEducation #KnowledgeSharing #Presentation #exporters #promoters

Understanding Section 111 of the Income Tax Ordinance – Unexplained Income or Assets Unexplained Amounts: If a person has unexplained amounts in their books, investments, assets, or expenditure, and cannot explain their source or nature, the tax authorities will treat these as taxable income. Tax Year for Inclusion: The unexplained amounts will be taxed in the year they relate to, either if they are from Pakistan or abroad. Foreign assets discovered later will be taxed in the year they are uncovered by the Commissioner. Under-declared Investments or Expenditures: If the declared cost of investments or expenditures is lower than reasonable, the difference will be taxed under "Income from Other Sources." Foreign Remittances: Remittances up to 5 million Rupees received through regular banking channels are exempt from scrutiny, provided the bank issues a certificate confirming this. Final Tax System: If the income is already subject to final tax, the taxpayer cannot claim excess amounts unless attributed to business activities, and they must provide audited financial statements. Board's Role: The tax authority (FBR) can make rules to further clarify and implement this section. It’s essential for businesses and individuals to maintain clear and accurate documentation of income, investments, and expenditures to avoid any tax implications under this section. #Taxation #IncomeTax #Section111 #FBR #PakistanTaxation #FinancialTransparency #TaxCompliance #TaxationMatters #TaxConsultancy #FinancialPlanning #BusinessTax #TaxAwareness

CBDT Introduces Enhanced Feature in Income Tax AIS: Track Your Correction Request Status Now https://lnkd.in/gMdGthKX For More Information Call Us At +91 831 748 8035 Mail At: info@certicom.in Visit Us: https://certicom.in #incometax #tax #incometaxfiling #itrfiling #ais #annualinformationstatement

As the year-end approaches, now is the perfect time to take steps to save on your taxes. Start by reviewing your expenses, minimizing estimated payments, and seeking professional advice. Finish the year strong by ensuring your tax strategy is optimized for maximum savings. Contact NOKAAF Auditors today for personalized year-end tax planning that fits your business needs! Feel free to reach out to us at: ☎: +971 52 7646955 📩: info@nokaaf.com #NOKAAF #DAXINGlobal #NOKAAFAuditors #TaxPlanning #YearEndTips #BusinessGrowth #FinancialAdvice #TaxSavings #ExpertGuidance

When a foreign person engages in a trade or business in the United States, all income from sources within the United States connected with the conduct of that trade or business is considered to be Effectively Connected Income (ECI). Deductions are allowed against ECI, and it is taxed at the graduated rates or lesser rate under a tax treaty. https://lnkd.in/gB2s9kBb

As expected, it would appear that NT and SARS are moving ahead with the implementation of Pillar 2 (Global Minimum Tax) effective 1 January 2024- IIR and QDMTT here we come!

CBDT launches Compliance-Cum-Awareness Campaign for AY 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets and reporting income from foreign sources in ITR: Dated:- 16-11-2024 - The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets (Schedule FA) and reporting income from foreign sources (Schedule FSI) in their Income Tax Returns (ITR). Compliance with Schedule FA and FSI is mandatory under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 , which requires the full discl... ... ... http://dlvr.it/TGCjHr #TaxLaws #News #TaxTMI