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MERGERS AND ACQUISITIONS

Mergers and acquisitions (M&A) is a general term that refers to the consolidation of companies or assets. M&A can include a number of different transactions, such as mergers, acquisitions, consolidations, tender offers, purchase of assets and management acquisitions. A Merger occurs when two separate entities (usually of comparable size) combine forces to create a new, joint organization in which – theoretically – both are equal partners. For example, both Daimler-Benz and Chrysler ceased to exist when the two firms merged, and a new company, DaimlerChrysler, was created. An Acquisition refers to the purchase of one entity by another (usually, a smaller firm by a...

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FILING OF SALES TAX RETURNS IN PAKISTAN

Sales Tax is a tax levied by the Federal Government under the Sales Tax Act, 1990, on sale and supply of goods and services and on the goods imported into Pakistan. REGISTRATION Who is to be registered? All importers All wholesalers (including dealers) and distributors Manufacturers not falling in cottage industry. {Cottage industry is defined as having annual turnover below Rs.5 million and whose annual utility bill (including electricity , gas and telephone) does not exceed rupees six hundred thousand}. Retailers (having value of supplies of over 5 million rupees, in any tax period...

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VALUATION MATTERS: INVOLVED IN MERGERS AND ACQUISITIONS

Naturally, both sides of an M&A deal will have different ideas about the worth of a target company: Its seller will tend to value the company at as high of a price as possible, while the buyer will try to get the lowest price that he can. There are, however, many legitimate ways to value companies. The most common method is to look at comparable companies in an industry, but deal makers employ a variety of other methods and tools when assessing a target company. Here are just a few of them: Comparative Ratios. The following are two examples of the...

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Synergy: A Common Goal Behind Mergers and Acquisitions

Regardless of their category or structure, all mergers and acquisitions have one common goal: they are all meant to create synergy that makes the value of the combined companies greater than the sum of the two parts. The success of a merger or acquisition depends on whether this synergy is achieved. Synergy takes the form of revenue enhancement and cost savings. By merging, the companies hope to benefit from the following: Becoming bigger: Many companies use M&A to grow in size and leapfrog their rivals. While it can take years or decades to double the size of a company through organic growth,...

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REGISTRATION OF TRADEMARKS IN PAKISTAN

These guidelines have the information to help you to file a search form and to file a trademark application form in Pakistan. The purpose of these guidelines is to provide applicants a better understanding to prepare and file a trademark application in accordance with Trade Marks Ordinance, 2001 and Trade Marks Rules, 2004. A Trademark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of others. A service mark is a word, phrase, symbol, and / or design that identifies and distinguishes the source of a service rather than...

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INCORPORATION OF A COMPANY IN PAKISTAN

Public Company Any three or more persons associated for lawful purpose may, by subscribing their names to the Memorandum of Association and complying with the requirements of the Companies Act, 2017 form a public company. Private Company Any two or more persons associated for lawful purpose may, by subscribing their names to the Memorandum of Association and complying with the requirements of the Companies Act, 2017 form a private company. Single Member Company If only one member forms a private company, it is called a single member company. Process of incorporation: Reservation of Company’s name First step towards incorporation of a company is to submit a combined or...

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WINDING UP / DISSOLUTION OF COMPANIES

What does it mean by “winding up” of a Company: The term ‘winding up’ of a company may be defined as the proceedings by which a company is dissolved (i.e. the life of a company is put to an end). Thus, the winding up is the process of putting an end to the life of the company. And during this process, the assets of the company are disposed of, the debts of the company are paid off out of the realized assets or from the contributories and if any surplus is left, it is distributed among the members in proportion to...

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REGISTRATION AND FILING OF INCOME TAX RETURNS IN PAKISTAN

Basic Concepts of Taxation The Federal levy, tax, on income (Income Tax) is governed by the Income Tax Ordinance, 2001 and Income Tax Rules, 2002. It is an annual charge on income. This includes taxable income, income subject to separate charge and income subject to final tax of a person for a tax year, and also includes global income of the resident person, even if it has already been taxed outside of Pakistan. “Tax Year” is a period of twelve months ending on 30th day of June i.e. the financial year and is denoted by the calendar year in which the said...

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