Welcome to the tax profiling website of Pakistan

Pakistan sales tax registered businesses must produce a tax invoice. Simplified invoices allow for retail sales. The invoices should include the following details: Name, Supplier Address Supplier's tax number Customer name and address Delivery date Unique invoice number Description of goods or services provided Sales tax rate, amount charged and invoice gross The amount of foreign currency should be translated into PKR at the public exchange rate. Recommended Blogs:  How to become Filer Mobile Devices Regulirizations - DIRBS Check FBR Status online How to pay income tax 

When General Pervez Musharraf's government decided to introduce a new tax law in 2000, we, among many, strongly opposed it. Our main objection is that his empire had no authority to enact any such law. The law says, "There is no tax without representation", emphasized by us and others. This constitutional principle is enshrined in Part 77 of the Constitution of the Republic of Pakistan, but as governor, the dictator was not oppressed. even the elected governments since Musharraf have been showing complete disregard for applying the new tax law and other tax codes that are in line with the fundamental rights and public policy guidelines contained in the Constitution. In Musharraf's time, it was argued that the dictator did not have the authority to enact the Income tax Ordinance, in 2001 repealing the Income tax Ordinance, 1979, also announced by the military dictator, General Zia-ul-Haq. It was thought that he should leave the post to the next government. Unfortuna

Citizens are liable for income tax from Pakistan and foreign sources. Determination of individual tax income varies depending on the state of residence of individual tax practitioners in Pakistan for the tax year (1 July to 30 June). The total amount of international income earned by a resident is taxed in Pakistan unless a specific amount is not to be expelled from Pakistan under a double tax protection agreement. A non-resident is taxed only from a source in Pakistan, including income received or deemed to have been received in Pakistan or is deemed to be collecting or originating in Pakistan. Recommended Blogs:  How to become Filer Mobile Devices Regulirizations - DIRBS Check FBR Status online

Today Pakistan is meeting the many needs of foreign investors. Despite political issues foreign investors are attracting investment in Pakistan. And we hope that Pakistan's economy will improve in the future. Investor safety concerns are slowly improving. Import and export play a major role in the world economy. It is made easier by importers and service providers who are exporting goods these days. Let us clear our minds of the negatives and discuss the good things that are happening in Pakistan. The CEPC creates many opportunities for both countries. The ECPC project is also attracting foreign investors in Pakistan. The CEPC will greatly benefit from importing and exporting Pakistan. Many foreign companies are investing in Pakistan. A few days back Nissan Motor CO Ltd announced that it would start producing its Datsun model in Pakistan. Pakistan has the potential to grow, with its annual sales of 200,000 cars. In 2016 the government introduced policies to promote growth in

1. Where, in any decisions under this agreement, the Commissioner, Commissioner (Complaints), or Petitioner is not satisfied that any person has any of the procedures mentioned or any of the previous procedures relating to audits in respect of the same tax year or inaccurate information provided. of that amount, the Commissioner, Commissioner (Complaints), or Petitioner, as the case may be, by written instruction, may impose a fine equal to the amount of tax that the person wanted to evade by hiding income or providing incorrect information of that money. 2. For purposes of subsection (1), concealment of revenue or disclosure of income information shall include - o the imposition of any money or taxable amount; o allegations of any deduction for any unauthorized expenditure; either o Any act referred to in subsection (1) of section 111. 3. Where any income or amount claimed by a taxpayer is demanded by a taxpayer or other taxpayer deducted to be taxed, the disallowance of such claim

The State Government, by notice in the Official Gazette, or the Board by order published in the Official Gazette for written reasons, may be exempted from any person or class of persons for payment of all or part of the fine and default. the fees payable under this Ordiance subject to the terms and conditions as may be specified in the notice or, as the case may be, the order. For more details visit the FBR or Recommended Blogs How to become filer How to check NTN number How to check FBR filer status How to check NTN online

Transfer Your Loss If you file a return within a reasonable time, you will be able to continue the loss until the following years, which can be used to save on the next. In terms of income tax law, people are not allowed to perpetuate the loss of income and set aside income if the tax revenue is not paid by the due date. Therefore, it is important to file your income tax return during the claim for lost income in the coming years. Simple tax returns, will help people, when they have to apply for a car loan or Home Loan. All major banks can request a copy of the taxes. Tax Refund If you have a valid return from the Treasury, you will need to submit the files, otherwise you will have to stop the return. The income and any tax return address that can be used is proof of your income and address. Immediate Visa Request An international and international agency is requesting copies of your previous tax returns to process your visa application. Avoid Penalty If you are asked to submit your

No, the CNIC and NTN numbers are two different numbers. The CNIC is a 13-digit number that consists of the first three parts of a five-part section that gives different demographic information and the second part is his family number and the last part represents your gender group. But the NTN number is completely different this number has two digits and is 8 digits. The NTN number is generated sequentially. CNIC and NTN have been different numbers but the FBR has announced that from the 2018-18 financial year they will both be equal. The announcement to include in the CNIC as NTN figures in effect from the last fiscal year 2018 - 19, the Federal Board of Revenue (FBR) are all set to use the details of companies to extend the tax base, it is read. The Federal Board of Revenue has said NADRA has issued CNIC numbers to NTN (National Tax Number) for all Pakistanis and anyone who submits tax forms can use his CNIC instead of NTN issued by Fbr . However, if you want to know your NT

When a person: You make a statement to the tax authority that is false or misleading something or omits a statement made to tax authorities or any other thing or thing other than a false or misleading statement; and tax debt (including pre-section 147 tax debt) calculated on the basis of the statement is less than what would have been if the statement was false or misleading (a difference to what is called - a tax deficiency would be a penalty for equal penalty where the statement or omission was deliberate or negligent, two hundred percent tax; or anywhere else (except where section 2 (2) applies), a twenty-five percent tax deficit. In the case of an assessment order under section 120, no penalty shall be imposed under subsection (1) until the tax arises when the taxpayer has taken a position contrary to the operation of this Ordinance to the taxpayer. position. The references in this section to the statement made to the income tax authorities are an indication of the written or

In the event of a person failing to notify a person of business deduction as required under section 117, the Commissioner may impose a fine not exceeding the amount of tax paid to the individual in the tax year in which the business was terminated. Where a person fails to notify a designated person as a pharmacist as required under section 141, the Commissioner may impose a fine not exceeding ten thousand. Penalty  for  obstruction : Where any person interferes with the Commission or the tax on the discharge of the Commission or the police service under this Ordinance, the Commissioner may impose a fine not exceeding ten thousand. For More Details visit  FBR and also view our other blogs .    Recommended Blogs: How to become filer How to check fbr filer status How to check NTN number

A person who, without reasonable cause, fails to comply with any notice issued to a person under section 116 or 176, shall be charged a fine equal to: In the case of the first failure, two thousand rupees; In the event of a second failure, five thousand rupees; or in the case of the third and subsequent failure, ten thousand rupees. Where a person is liable for penalties under clause (1) with an assessed tax credit for the tax year in which the failure occurs is less than twenty thousand, the amount of the penalty imposed under subsection (1) will be reduced by seventy-five percent. For More Details visit  FBR. Calculate you tax now: Tax Calculator 2020 Please Read: How to become filer How to check NTN number

In the event that a taxpayer misses the tax return deadline, he or she will file a late tax return. Consolidated Tax Returns will be filed on or before the end of the Assessment, for the relevant assessment year. In the current fiscal year, the tax deduction will be completed anytime before March 31, 2020, if the student fails to file his or her taxes before or after August 31, 2019. In addition, if you missed the due date for filing your return, you can still file a payment of Rs 5,000 by 31 December 2019. If you complete after 31 December 2019, you will have to pay Rs 10,000. It should be noted that the deadline for filing tax returns at the end of 2019-20 is 31 August 2019. If you are not a filer and want to become filer, please visit the blog ' How to become filer ' Filing your ITR on time will help you in the following ways: 1. Easy loan approval from banks 2. Claim tax refund from the government. 3. Income & Address Proof 4. Quick visa processing 5. Avoid f

It is a real-time online system used to write sales documents that link the FBR system with the computerized sales program where Tier-1 vendors. young. A QR or barcode prints automatically on a merchant-generated invoice. Consumers can easily confirm their tax deduction with the 'Asaan App' installed on their smartphones. The use of the POS system will also complete periodic inspections on the FBR authorities system. November 2019. This app is available on all Android and iOS smartphones   Benefits of the POS system • You can get sales tax rebates if you shop from any textile or leather stores linked to the POS program • You can also confirm whether the sales tax you paid reaches the national line. For more information, you can visit the  FBR official website . Recommended blogs: How to become Filer in Pakistan How to apply for NTN online If you want to see more  blogs , visit our website.