The Affidavit of Business Closure is a fundamental document required in Pakistan when permanently ceasing business operations. It serves as an official sworn statement that provides comprehensive information about the business closure to various regulatory authorities. This document is typically required when a business owner or company director decides to permanently shut down operations and needs to formally declare this to government authorities, creditors, and other stakeholders. The affidavit includes crucial details such as business identification, reasons for closure, confirmation of tax compliance, status of liabilities, and asset disposition plans. Under Pakistani law, this document must be properly executed before authorized officials and may be required for various purposes including tax deregistration, cancellation of business licenses, and formal notification to regulatory bodies. The affidavit helps ensure a systematic and legally compliant business closure process while providing protection against future claims or disputes.
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1. Affiant Information: Details of the person making the affidavit, including full name, CNIC number, and position in the business
2. Business Details: Complete information about the business including registration number, type of business, address, and duration of operation
3. Declaration of Closure: Clear statement declaring the permanent closure of the business and the effective date
4. Reason for Closure: Explanation of the circumstances leading to business closure
5. Tax Compliance Statement: Declaration regarding the status of all tax obligations and filing of final returns
6. Outstanding Liabilities: Statement regarding any pending debts, credits, or financial obligations
7. Asset Disposition: Information about how business assets have been or will be disposed of
8. Verification: Formal verification clause stating that all information provided is true and correct
9. Oath: Standard oath clause as required under Pakistani law
1. Partnership Dissolution: Required when the business is a partnership, detailing partner agreements and settlement of partnership accounts
2. Employee Settlement: Needed when the business had employees, confirming all dues and obligations have been settled
3. Lease Termination: Required when business premises were leased, confirming proper termination of lease agreements
4. Regulatory Licenses: Needed when business held special permits or licenses, confirming their surrender or cancellation
5. Bank Accounts: Required when declaring the status and intended closure of business bank accounts
6. Pending Legal Matters: Needed when there are ongoing legal proceedings or disputes to be disclosed
1. Schedule A - Tax Clearance Certificates: Copies of tax clearance certificates from relevant tax authorities
2. Schedule B - Final Financial Statement: Last financial statement showing the business's current financial position
3. Schedule C - Asset Inventory: Detailed list of business assets and their disposition plan
4. Schedule D - Liability Statement: Comprehensive list of all outstanding liabilities and their settlement status
5. Schedule E - Supporting Documents: Copies of business registration, licenses, and other relevant official documents
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Retail
Manufacturing
Services
Technology
Construction
Healthcare
Education
Hospitality
Trading
Agriculture
Real Estate
Professional Services
Small and Medium Enterprises
E-commerce
Relevant Teams
Legal
Finance
Compliance
Administration
Operations
Tax
Corporate Secretarial
Risk Management
Business Development
Human Resources
Relevant Roles
Business Owner
Managing Director
CEO
Company Secretary
Legal Counsel
Chief Financial Officer
Tax Manager
Compliance Officer
Finance Director
Operations Manager
Administrative Manager
Business Development Manager
Partnership Director
Sole Proprietor
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