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Showing posts with the label ntn number

Pakistan's tax base shrinks, only 40% NTN holders file returns

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The government's tax distribution campaign has collapsed as only 2.5 million people have filed annual income returns against the 6.2 million National Taxpayers' Compensation which shows the weak author of the tax machine. The returns are 278,581 or 11% less than in the last tax year even though Prime Minister Imran Khan's government is offering a tax exemption and a conducive forum to traders in the hope that it will bring them in hope. More than one-tenth of the time required a state tax, led by Imran Khan, known for his financial integrity. The tax center is headed under the chairmanship of the Federal Board of Revenue (FBR) Shabbar More, who has been brought in by the private sector to promote reform. Government has not been able to announce a substitute for the pass though it has held numerous meetings in the twin cities. Also noteworthy is the fact that despite winning major tax treaties from the government, the number of merchant revenue returns dropped this year c...

Is CNIC and NTN number same?

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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...

Is CNIC and NTN number are same?

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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 their CNIC instead of NTN issued by Fbr. Please check blogs for more informatio...

Sales Tax due dates

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Tax filer according to their respective categories need to file their tax return in monthly, quarterly and annual return format. Monthly Return Under normal procedure the subscriber must file a monthly return with Annexure C on the 10th and payment on the 15th and return of emails on the 18th of the month following the period in which the transaction is made, to designated branches of the National Bank of Pakistan. In the event of specific phases as outlined below The process is designed to file monthly and quarterly file returns. Quarterly Return Taxpayers who fall exclusively in the CNG category must file a return on a quarterly basis. Annual Return A manufacturer must file an annual sales tax return by September 30 of the next fiscal year. Calculate your tax from Tax Calculator now. For more information, please visit our website or FBR official website . Also Check: Check FBR Filer Status Check NTN Online How to become Taxpayer in...

REGULATION ON ARTICLES OR GOODS

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Articles or goods delivered at a commercial value are only issued at a payment equal to 30% of the value of the goods or goods or in addition to the taxable service. COMMERCIAL QUANTITY Prima facie for business or money gain is the number of imported goods and not for personal use or gift. PROHIBITED ARTICLES OR GOODS Anything that cannot be imported or exported from Pakistan is prohibited or prohibited under any circumstances to protect society, health and environment. RESTRICTED ARTICLES OR GOODS Some certificates, conditions, licenses, permits or restrictions may be imported or exported from Pakistan. Some commonly banned and restricted articles or goods that cannot be imported or exported from Pakistan are listed in the Luggage Regulations Brochure. Also Check: How to become filer How to check FBR Filer Status Who is filer and non-filer?

The cost of being Non-filer

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Unfortunately, Pakistan has the lowest ratio of income tax payers among many other countries. As only 1% population of Pakistan is a tax payer as recent statistics of Federal Board of Revenue show that only 1.42 million people are paying their taxes. The federal government is trying to increase the tax payer ratio in the annual budget since 2013. In order to convert non-filer to  filer , Finance Act 2014 is introduced to  penalize the non-filers  by compelling them to become tax payers. A Filer is the person who files his/her income tax return annually. As per Section 2(23), a filers is one whose name appears in the Active Tax Payer list (ATL) issue by FBR. Tax law regards the taxation and distribution of Tax Return as two separate activities – a concept that is not generally accepted by most people. Paying or deducting a tax does not remove a person from the official and prescribed tax return filing system, so one cannot be a file unless one person submits thei...