CAF-2 · Chapter 4 · Question 8 of 15
For an Association of Persons (AOP) to be considered a resident in Pakistan for a tax year, the control and management of its affairs must be situated:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) Wholly or partly in Pakistan at any time in the year.
Explanation
An AOP shall be a resident association of persons for a tax year if the control and management of the affairs of the association is situated wholly or partly in Pakistan at any time in the year.
More Basic Concepts of Taxation MCQs
- Q10Omega (Pvt.) Limited extended a loan of Rs. 2.5 million to one of its shareholders on 30 June 2026. The company's accumulated profits on…
- Q11ABC & Co., an AOP, has an annual turnover of Rs. 116 million and a computed tax liability under the normal tax regime (NTR) of Rs. 164,000…
- Q12A woman enterprise (a sole proprietorship owned by a woman) launched in August 2021 generates profits under the head 'Income from…
- Q13XYZ Ltd. sold a second-hand asset to an associated company. The written-down value of the asset was Rs. 350,000, and the sale price…
- Q14A debtor of Mr. Bashir directly paid Rs. 35,000 to Mr. Bashir's supplier to settle one of Mr. Bashir's business liabilities. The payment…