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Tahseen Rehman Chartered Accountants

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Tahseen Rehman Chartered Accountants

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Tahseen Rehman & Co. is firm of Chartered Accountants providing high quality audit, accounting, taxation

26/09/2026

3 Simple Steps to Streamline Your Year-End Tax Preparation

Tax season does not have to be chaotic. For small-to-medium business owners and self-employed individuals, staying compliant comes down to simple, regular habits rather than last-minute rushing.

3 Advisory Tips to Stay Ahead:

Separate Your Bank Accounts: Never mix personal expenses with business transactions. Keeping a dedicated business account makes income and expense reconciliation instant and audit-ready.

Collect Withholding Certificates Monthly: Don't wait until filing time to request withholding tax certificates from banks, clients, or utility providers. Keep a digital folder updated every month.

Track Capital Asset Purchases: Keep receipts and ownership documents for any machinery, vehicles, or IT equipment purchased during the financial year to ensure correct depreciation claims on your return.

The Takeaway: Clean record-keeping throughout the year saves time, reduces tax preparation costs, and keeps your business on the Active Taxpayer List (ATL) without stress.

18/09/2026

Compliance Countdown: The Final 12 Days to File Your TY 2026 Tax Return

With the September 30 deadline approaching, individuals, freelancers, and Associations of Persons (AOPs) enter the critical window to file their annual tax returns on the IRIS portal.

3 Core Priorities Before September 30:

Active Taxpayer List (ATL) Retention:
Filing on or before the deadline ensures your name remains on the Active Taxpayer List without interruption. Missing the cutoff leads to immediate removal from the ATL and subjects you to higher withholding tax rates on banking transactions, property transfers, and vehicle purchases.

Reconciling the Wealth Statement:
Ensure that gross inflows across all bank accounts during the period (July 1, 2025 – June 30, 2026) fully align with declared income and asset acquisitions. Mismatches between wealth growth and declared sources remain a primary trigger for FBR automated system notices.

Avoiding Last-Minute Portal Bottlenecks:
Historically, portal traffic increases during the final week of September. Submitting early avoids system delays and provides ample time to verify tax credits, Zakat deductions, and tax paid at source.

Protect your active status and avoid late-filing penalties. Submit your documentation early to complete your filing seamlessly.

02/09/2026

Filer vs. Non-Filer: What Is Non-Compliance Actually Costing You?

Many small business owners delay filing their annual tax returns, thinking it's an unnecessary administrative hassle. However, operating as a "Non-Filer" is far more expensive than paying for compliance.

The Hidden Costs of Being Off the Active Taxpayer List (ATL):
Double Withholding Taxes: You pay significantly higher withholding rates on routine commercial bank transactions and cash withdrawals.

Asset Purchases: Buying a vehicle or registering commercial property carries double the tax burden for non-filers compared to active filers.

Missed Contracts: Corporate clients and large enterprises are legally restricted from working with non-compliant vendors.

Staying compliant doesn't just keep you safe from FBR notices it directly protects your business cash flow and opens doors to bigger corporate contracts.

29/08/2026

Setting Up a Tech Enterprise? Read This First

Starting a software house, IT consultancy, or SaaS business in Pakistan is an exciting journey, but setting up your legal and financial foundation incorrectly can cost you thousands later.

3 Key Advisory Steps Before Launching:

Legal Structure: A Single Member Company (SMC-PVT) or Partnership protects your personal assets far better than operating as an unregistered sole proprietor.

PSEB Registration: Registering with the Pakistan Software Export Board unlocks tax concessions on export proceeds and protects your income through official banking channels.

Software Expense Planning: Ensure your international software tools (SaaS) take advantage of reduced withholding rates on digital payment transactions.

Don't wait until tax season to structure your business. Building an audit-ready, compliant model on Day 1 builds trust with international clients and potential investors.

18/08/2026

Digital Tax Audits: The Shift to FBR’s National Faceless Audit Centre

Under the latest tax law amendments, the Federal Board of Revenue is operationalizing a National Faceless Centre to conduct audits, assessments, and appeals electronically.

Key Structural Highlights:
· Faceless Assessments: Eliminates direct personal interaction between taxpayers and officers to ensure objectivity and privacy.
· Machine-Readable Submissions: Financial statements and tax returns must now be submitted in standardized electronic formats.
· Integration Incentive: A 10% tax credit is offered on capital expenditure spent on integrating business POS/billing systems with FBR’s electronic invoicing portal.

The era of paper-based verification is closing. Enterprise clients must audit their digital accounting records to ensure seamless data alignment.

13/08/2026

Happy 79th Independence Day, Pakistan!

On this day, we remember the vision and sacrifice that gave us this nation, and we're proud to keep contributing to its growth.

Wishing everyone a joyful Independence Day, filled with pride and hope for the years ahead.

– Team Tahseen Rehman & Co.

30/07/2026

Payroll & WHT Checklist: Implementing Finance Act 2026 Adjustments

With the new fiscal year active as of July 1, 2026, finance and payroll teams must update their withholding systems to match the newly enacted tax slabs and deduction rules.

Immediate Statutory Updates to Audit:

Revised Salary Slabs (Section 149): Updated tax brackets with lower effective rates across middle-income bands and the permanent abolition of the 9% surcharge on high earners.

Property Transaction Relief: Seller WHT under Section 236C reduced to 2.75%, while buyer WHT under Section 236K drops significantly to 1.25% for filers.

Foreign Card Transactions: Advance tax on foreign debit/credit card payments slashed from 5% to 0.5%.

Action Required: Verify that your automated ERP/payroll modules are applying these updated rates to avoid over-withholding or non-compliance penalties.

29/07/2026

Macroeconomic Brief: S&P Upgrades Pakistan’s Sovereign Rating to ‘B’

In a major vote of confidence for the economy, S&P Global upgraded Pakistan’s sovereign credit rating to 'B' with a Stable Outlook. This reflects structural fiscal consolidation, a contracting deficit (down to 4% of GDP), and strong tax collection momentum.

Key Indicators Driving the Upgrade:
Fiscal Deficit Target: Consolidated deficit narrowed to 4% of GDP from historical highs above 7.9%.
Tax Revenue Surge: FBR collections grew by over 10-11%, helping anchor fiscal stability.
Debt Reprofiling: Institutional stabilization allows better long-term corporate debt planning and predictable interest rate environments.

A rating upgrade reduces country risk premiums, improving foreign direct investment (FDI) inflows and trade credit lines. Corporations should review their capital expenditure and cross-border financing structures for Q3/Q4.

17/07/2026

📋 Tax Year 2026: It’s Time to File Your Taxes

The tax year ended on June 30. If you are a business owner, a salaried worker, or a company, it’s now time to stop guessing your numbers and start gathering your actual financial data.

To file your tax return accurately on the FBR IRIS portal, you need to collect and double-check your records before the deadlines arrive.

🔍 3 Things You Need to Collect Right Now
Your True Income (Revenue)
Check your total income using your bank statements, salary slips, or business invoices. Make sure your records match what the FBR already has logged about you online.
Your Expenses & Tax Cuts (Deductions)
Gather your utility bills, salary sheets for employees, and certificates showing any tax that banks or phone companies already deducted (withholding tax) from you.
Changes to What You Own (Assets)
Did you buy or sell a car, a piece of land, a house, or any other major asset this year? Collect those papers so you can accurately update your Wealth Statement.

💡 Why Act Early?
Checking your numbers now gives you time to fix any errors or mismatches quietly on your own. This protects your Active Taxpayer List (ATL) status (keeping you a "filer") and saves you from sudden FBR audits or penalties.

Need Help?
If you want professional help putting your Tax Year 2026 paperwork together, feel free to reach out to our offices in Islamabad or Multan.

09/07/2026

🚨 The New Frontier of Audit Evidence: IAASB Approves Revisions to ISA 330, 500, and 520

The international auditing architecture is undergoing its most significant structural revision in years. The International Auditing and Assurance Standards Board (IAASB) approved the release of three foundational, interconnected exposure drafts for public consultation:

Proposed ISA 500 (Revised) – Audit Evidence
Proposed ISA 330 (Revised) – The Auditor’s Responses to Assessed Risks
Proposed ISA 520 (Revised) – Analytical Procedures

This regulatory overhaul permanently alters how auditors evaluate evidence, design responses to risk, and apply professional skepticism in an automated, algorithmic financial environment.

Key Structural Enhancements:
The Technology Imperative: The revised core framework formally integrates automated tools, machine-driven data streams, and data analytics into the primary definition of reliable audit evidence.
Controls-Based Evaluation: Strengthens the work required on internal controls and broadens the structural scope of tests of controls, encouraging a systems-driven approach over manual ticking.
Skepticism Calibration: Introduces an explicit, comprehensive framework for making objective judgments about all evidence obtained, requiring auditors to evaluate both corroborating and contradictory evidence with equal weight.

Address

Office No. 3, Rehmat Building, New Abdali Colony
Multan
60000

Opening Hours

Monday	09:00 - 18:00
Tuesday	09:00 - 18:00
Wednesday	09:00 - 18:00
Thursday	09:00 - 18:00
Friday	09:00 - 18:00
Saturday	09:00 - 13:00

Telephone

+923483908451

Website

http://www.trca.com.pk/

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