Statutory compliance relates to the various labour and taxation laws prevalent in Pakistan. These laws change, periodically, on the Provincial and National level. It is mandatory for companies to obey them. Non-compliance with these regulations can land a company into legal trouble such as penalties, fines, or worse. Therefore, companies spend a good deal of resources ensuring statutory compliance.

Statutory Compliance is easy when you have PFOC looking after your business’s accounts and filing returns to the FBR. Our decades long experience in dealing with limited companies, partnerships, and sole proprietorship from all walks of life, enables us to not only understand your business’s unique scenario but also to advise on the best way to remain compliant.

Statutory compliance ensures that an organization avoids penalties, disqualifications, confiscation of licenses, fines, lawsuits, etc. In other words, complying with prerequisite regulations and norms ensure that the business does not face any legal implications.

When a company is successfully complying with requisite regulations, it saves a lot of time, effort, and resources that can be employed in sectors that are more indigenous to its cause and existence i.e., growth and profitability.