Chicken Biryani

Can anyone let me know of a government body or any other organization in Lahore or Islamabad ,Pakistan, that can provide us info on new business legal and taxation requirements ?

Or anyone knows of any websites?

I am keen to know the legal and taxation requirements for the following kind of companies :

1- Pakistan registered companies
2- International based companies wanting to launch a new product in Pakistan.

Thanks in advance for your help...

firenze

that's where everything got started.. they are pre-planned projects..to start working rightway.. + all the information you required.. ..

this pak.gov portal .... so ..yeh enjoy !.
SMEDA - Small and Medium Enterprise Development Authority

firenze

also this for all the pakistanis outside.. who wanan come to Pakistan: ..

pre-fesibility reports.. on nearly every field.: SMEDA - Pre-feasibility Studies

Chicken Biryani

thanks abunch Firenze ...

hubal watan

registering a company is not difficult but i have heard that there is lot of corruption back home

fayax

CB..you want to be very careful with your money and investments there. Make sure you have at least one high profile contact and get more than a few opinions before doing anything .

Chicken Biryani

Definitely Fayax ...you are very right ... I am thinking of Britian based company with plans to launch a few products in the Pakistani market ... but Taxation issues are creeping me out ..

Anyone knows Pakistan Taxation laws? in such cases ?

firenze

^ you are worrying about Taxes.. i am worrying about corruption, time ka zayaa.. and security .. and.. else.. and else..

..

fayax

^ yup Firenze. CB you need to more worry about people taking off with your product or capital.

For exact tax information talk to previous ethical business people also.

Chicken Biryani

guys stop scaring the kittens out of me Pakistan hamara mulk hai

... PS : is corruption THAT deeply rooted in Pakistan now ?

PaRtyGuyz

Official Website of the Securities&Exchange Commission of Pakistan

Welcome to Federal Board of Revenue! Revenue Division! Government of Pakistan

Chicken Biryani

Thanks PartyGuyz ... this is very helpful ..

I have another question ,if anyone can help me please ... What lPakistani Licenses and taxes will a retail company need that is based in the US but selling its products in the Pakistan market?

PaRtyGuyz

^^ hard to give an answer like that, But Pakistan has signed a Dual Tax treaty with the US, Canada & UK. So you don't need to pay taxes in two countries. As per Pakistani side, if you are bringing new business, its Tax free, investor could have major share in the setup and has no restriction on moving the money internationally.

PaRtyGuyz

BanTaleban

From a security, business law and market perspective you are a lot better of starting the business in India - i.e if you are investing in manufacture. If it is just import and/or trade, you can't compete.

corruption is equally bad in both countries.

Chicken Biryani

Thanks guys this is extremely helpful.. abit more details about my question earlier ...

The company is not a manufacturer but a retailer which is based in the US ... and will not be opening an office in Pakistan. It will just be marketing and advertising its products and putting it on the main retailers shelves in Pakistan.

for that purpose , I was keen to know if its going to be free of cost ( tax and license wise ) or are there any licenses required in order for a foreign company to sell its products in Pakiland ....

Please advise ... Thanks

PaRtyGuyz

^^ there are few companies in Pakistan operating like that, in this case you need to sign up a local partnership, who could negotiate, take orders for your merchandise, place an order with the company in the US, receive the shipment (clearing/warehousing) and Delivery to local retailers. Since you would be signing a local partnership, you do not need to require any license or file taxes. The partner company will cover all that, You just need a good corporate lawyer in Pakistan though.

Chicken Biryani

Thanks PartyGuys ... ok, the US company is headed by an overseas Pakistani ... hence he is going to be negotiating with pakistani retailers himself ... He might need occasional gound staff in Pakistan for promotional reasons .. other then that , he wont be needing any official presence in the country.

In this case if he signs up a local partnership, he would be in essence raising his budget .. which he doesnt want to do ...

In that case is he left with only one option and that is to register his company in Pakistan and then sell his products ? he may not have to pay taxes due to the government to government single tax payment terms ?

What is the best way to go about this all ?

PG , really appreciate your help mate ..

PaRtyGuyz

^^I hope that overseas Pakistani has either worked or have done business with Pakistani retailers before. if he is thinking to hire ground staff and make them work or observe them remotely is extremely difficult.

The best option would be to find at least 2-3 suppliers currently dealing with such retailers, sign up non-exclusivity agreement to supply the products but keep the quality Assurance in your own hand. Make good relations with the retailers, if your local partner messes up, you can go direct.

the Overseas Pakistani can form his company simultaneously while signing up partners. You need to learn the tricks of the trade in Pakistan first.

As per taxation/licenses, being on the ground would really help compare to reading it online. As i said earlier, you need a good corporate lawyer & an Accountant.

Chicken Biryani

yes definitely PG , thanks so much for such valuable advise ... its really helpful