Posts

Showing posts with the label penalize non-filers

REGULATION ON ARTICLES OR GOODS

Image
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?

How to change personal details for filing the income tax return

Image
A person may change his or her registration information to complete Income-tax Return in at least three (3) ways. 1. To change information about Iris, one can change / update information by logging in to Iris. The following information can be updated by the person on the Registration Form 181 (filed for conversion) Income Tax: Mobile number Email Your Address / Residence Business Address Addition of Business Branches Legal Agent / s 87 of the Income-tax Ordinance 2001 Bank Account 2. To change information using the Federal Board of Revenue (FBR) helpline, one can change and update information through the FBR telephone service by telephone or email. The following information can be updated by the helpline: Name Birthday Gender Disability status Senior Citizen Status 3. Changing Information by Visiting the Regional Office (RTO) For changes in registration in respect of the following issues, a person will need to visit their appropr...

The cost of being Non-filer

Image
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...