RIAZ AHMAD, SAQIB, GOHAR & CO. (RASG) is pleased to present ‘highlights, comparison & comments’ on this year’s budget to its clients, friends and associates. While developing this document every endeavour has been made to keep the presentation simple with a view to help our readers to understand the amendments in the various statues through the Finance Bill, 2005.

This commentary reflects our understanding of the legislation and we recommend that reference should be made to the precise wording of the Bill wherever necessary. We would also recommend that professional advice should be sought before acting upon any of the amendments.

RASG is also pleased to notify its valued clients, friends and associates that our website; www.rasgco.com has been uploaded with a specific interactive section of the Tax Commentary, 2005 and a digital copy of the Commentary can also be down loaded both in ‘MS WORD ’ and ‘PDF’ formats.

Finally we would also like to record our appreciation for the excellent teamwork displayed by the staff of RASG as well as our other associates and printers of this document.

RIAZ AHMAD, SAQIB, GOHAR & CO.
Chartered Accountants

Karachi: 7 June, 2005