Asif Farid & Company LLP

Asif Farid & Company LLP Income & Sales Tax Returns, Company Registrations, Audit & Accounts, Training & HRM Consultancy. At AFCO, relationships matter as much as technical expertise.

Since 2001, Asif Farid & Company LLP (AFCO) has been helping businesses, entrepreneurs, and individuals across Pakistan make better business decisions through trusted Tax, Corporate, Legal, and Financial Advisory services. What started as a tax consultancy has grown into a multidisciplinary professional services firm, supporting clients with everything from tax planning and litigation to company registration, SECP compliance, accounting, financial reporting, and corporate legal advisory. Today, businesses rely on AFCO not only to stay compliant but also to make informed decisions that support long-term growth. Over the years, we have earned the trust of 5,000+ clients, successfully handled 1,000+ professional engagements, and delivered 350+ professional trainings for businesses, professionals, chambers of commerce, government organizations, and industry associations across Pakistan. These experiences have allowed us to work with organizations of every size, from startups and SMEs to multinational companies and public sector institutions. Our team combines legal, taxation, corporate, and financial expertise to provide practical advice that reflects today's business realities. We believe professional services should be clear, responsive, and focused on results, not unnecessary complexity. That's why many of our clients have trusted us for years to manage their tax, corporate, legal, and compliance matters with professionalism, integrity, and consistency. For more than two decades, we've built our reputation on trust, expertise, and lasting client relationships, and we remain committed to delivering the same standard of excellence for years to come.

Final tax, adjustable tax, and minimum tax are not three ways of saying the same thing.Understanding the difference matt...
17/09/2026

Final tax, adjustable tax, and minimum tax are not three ways of saying the same thing.

Understanding the difference matters when filing your income tax return, calculating your tax liability, and reviewing tax already deducted or paid.

Final tax generally settles the tax treatment of specific income or transactions under the applicable provision.
Adjustable tax is tax already collected or deducted that may be credited against your tax liability, subject to the law.
Minimum tax is a statutory minimum liability that can apply under specific provisions when the normal tax calculation is lower.

The exact treatment depends on the nature of the income or transaction and the relevant provisions of the Income Tax Ordinance, 2001.

Only a few days left to file your Tax Year 2026 Income Tax Return.The 30 September 2026 tax return filing deadline is ap...
16/09/2026

Only a few days left to file your Tax Year 2026 Income Tax Return.

The 30 September 2026 tax return filing deadline is approaching, and waiting until the final days can create unnecessary pressure, delays, and compliance issues.

For late filing, the applicable penalties include Rs. 25,000 for Individuals and Rs. 50,000 for AOPs, subject to applicable law and circumstances.

Filing your income tax return on time helps you:
• Stay compliant with FBR requirements
• Maintain timely filer status
• Benefit from lower applicable withholding tax rates
• Avoid additional costs and complications associated with late filing

If your Tax Year 2026 income tax return is still pending, now is the time to get it prepared and filed properly.

Foreign card payments just became significantly cheaper from a tax perspective.Under the Finance Act 2026, the advance t...
10/09/2026

Foreign card payments just became significantly cheaper from a tax perspective.

Under the Finance Act 2026, the advance tax on amounts remitted abroad through credit cards, debit cards and prepaid cards has been reduced from 5% to 0.5%.

For example, on an international card payment of Rs. 100,000, the advance tax falls from Rs. 5,000 to Rs. 500.

This is an important change for anyone making international card payments, whether for online purchases, foreign services or other payments to overseas merchants.

Understanding the difference between the old and new rate matters when calculating the actual cost of your international transactions.

Four years ago, we lost a remarkable man, but we did not lose the values, principles, and vision he gave us.Muhammad Far...
09/09/2026

Four years ago, we lost a remarkable man, but we did not lose the values, principles, and vision he gave us.

Muhammad Farid Khan (Late), Founder of AFCO, built more than a professional practice. He built a foundation rooted in integrity, commitment, discipline, and excellence. Today, those principles continue to influence the way we serve our clients, approach our profession, and carry forward the work he began.

His absence is deeply felt, but his presence remains in the standards he set, the people he inspired, and the legacy he entrusted to those who came after him.

On 9 September 2026, we remember him with gratitude, respect, and immense pride. Four years on, the legacy still lives on.

Remembered with love. Honoured with respect. Never forgotten.

Filing your tax return is not just about compliance. It can directly affect how much tax you pay throughout the year.Bei...
07/09/2026

Filing your tax return is not just about compliance. It can directly affect how much tax you pay throughout the year.

Being on Pakistan's Active Taxpayer List (ATL) can mean lower withholding tax on a range of transactions, including property, vehicles, banking, dividends and securities.

And if excess tax has already been deducted from you, filing your Income Tax Return may allow you to claim a refund, subject to applicable laws.

There is also an important change for Tax Year 2026.

The separate “Late Filer” category is gone from 1 July 2026. But that does not mean filing late is without consequences. An individual filing late and seeking inclusion in the ATL may now have to pay a Rs. 25,000 surcharge under Section 182A.

The takeaway is simple: don't wait until filing becomes expensive.

File on time. Stay active. Know your tax position.

Some sacrifices can never be repaid. They can only be remembered.On 6th September, we pay tribute to the brave men and w...
06/09/2026

Some sacrifices can never be repaid. They can only be remembered.

On 6th September, we pay tribute to the brave men and women of Pakistan’s Armed Forces who stood in defence of our homeland and made the ultimate sacrifice for the country.

Defence Day is not only about remembering the past. It is about recognising the courage, duty and commitment that continue to protect Pakistan.

With respect and gratitude, we honour our martyrs and all those who serve Pakistan.

Pakistan Zindabad.

The deadline is getting closer. Is your tax return ready?30th September is the deadline for filing your income tax retur...
05/09/2026

The deadline is getting closer. Is your tax return ready?

30th September is the deadline for filing your income tax return. Waiting until the last few days can turn a straightforward filing into unnecessary stress, especially when your documents, income details, assets, and tax information need careful review.

File your tax return on time, stay compliant, and avoid the complications that come with last-minute filing.

A timely return is not just about meeting a deadline. It is about keeping your tax affairs accurate, documented, and up to date.

30th September. Mark the date. File before the rush.

A day to remember the life, character, and teachings of the Prophet Muhammad (PBUH).On Eid Milad-un-Nabi, we reflect on ...
25/08/2026

A day to remember the life, character, and teachings of the Prophet Muhammad (PBUH).

On Eid Milad-un-Nabi, we reflect on the values of compassion, honesty, justice, patience, and service to others that continue to guide us in both our personal and professional lives.

May this blessed occasion inspire us to uphold integrity in our work, fairness in our dealings, and kindness in our communities.

Eid Milad-un-Nabi Mubarak from Asif Farid & Company LLP.

22/08/2026

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Address

Office No. 10, 2nd Floor, Awan Plaza, G/8 Markaz
Islamabad
44000

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 - 18:00

Telephone

+92516124100

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