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Wednesday 4 May 2011

Re: ::: vuaskari.com ::: LET'S DISCUSS FIN623 Assignment case 01

IN THE CASE 1
PSO IS RESIDENT COMPANY  ITS MORE SHARES ARE PROCESSED BY THE FEDERAL GOVT OF PAKISTAN

On Tue, May 3, 2011 at 10:39 PM, fawad ahmed <muhammad.fawad.ahmed@gmail.com> wrote:
Maha: could u please upload Fin623 assignment question file.. please..  i'll be thankful


 
On Tue, May 3, 2011 at 8:41 PM, MAHA SHAH <maha.shah.askari@gmail.com> wrote:
first of all here we are discussing case 1 in this all circumstances says that its a resident company for Pakistan

but m confused in one thing that company was delisted from karachi stock exchange in the year 2009
so for the year 2010 whether it would be resident for Pakistan or not coz it's partly control and management is dealing in Saudi Arab  in 2010 and there is not mentioned that next partly is managing in Pakistan or elsewhere

So in above situation whether we should consider parent and subsidiary company concept here or not?
And what we should conclude its Resident for year 2010 in Pakistan or non resident?


Case # 01:
PSO Ltd is a public company incorporated under the Companies Ordinance, 1984, whose
shares were traded on the Karachi Stock Exchange from 1 January 2008 until 29 June
2009, on which date the company was delisted. PSO closes its accounts on 30 June each
year. 49% of the shares in PSO are held by the Government of the Kingdom of Saudi
Arabia and 51% by the Federal Government of Pakistan. The control and management of
the affairs of PSO was situated partly in Saudi Arabia during the year ended 30 June
20010.
Required:
State, giving reasons, whether for Pakistan tax purposes for the tax year 2010 PSO Ltd:
1. Is a resident or a non-resident company?



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MAHA SHAH

MBA(FINANCE) 4th SEMESTER

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Chauhdary Muhammad Fawad Ahmed
MBA 4th semester
Lahore
Virtual University of Pakistan



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