Blog Posts

You might have heard the word non-resident, but you might not be sure what it means. So, who is considered a non-resident Pakistani? The definition is not very simple. It is essential to differentiate between a resident and a non-resident Pakistani for tax purposes. Before Finance Act, 2022 a person was treated as a resident […]

I wouldn’t be wrong in saying that two things in life are for sure … death and taxes. Unfortunately, taxes are not easy to understand very few people can truly understand what taxes are, the different types of taxes, how they are used, and how to pay them. Since the government of any country cannot […]

Not everyone is required to file an income tax return each year. If your annual income does not exceed certain thresholds, you do not need to file an income tax return. In Pakistan, citizens falling under the criterion mentioned in Income Tax Ordinance, 2001, must file their income tax returns. Before we start our discussion […]

The deadline for filing the income tax returns for the fiscal year 2021-2022 is just a few weeks away. 30 of November 2022 is the last date for submitting the income tax returns within the due time.  According to the FBR officials’ statement, they said that “all the taxpayers other than corporate taxpayers (Company) are […]

Today we will look into the detailed information and documentation required for filing Income Tax Returns in Pakistan. If you are ready to file your taxes, this writeup will help you gather essential documents required for your tax filing. Every taxpayer is now required to submit an Annual Income Tax Return “Digitally”. The information which […]

By Syed Asad Ali Shah Budget 2022-23 is continuation of series of budgets for last several years that have been increasing tax rates and withdrawing exemptions, mostly raising the tax burden on the existing tax payers. Like all previous budgets, current one also aims to reduce the fiscal deficit that has remained in the range […]

People in Pakistan pay taxes but the majority of them don’t know anything about it. They worry about being taxed differently but they don’t know about the different taxation metrics. Majority of the salaried individuals in Pakistan are unaware of how easily they can save taxes by getting adjustments from their employers and reduce their […]

If you are a retailer and selling any kind of products whether consumable or of any other nature, then you may already have a POS System or wanted to learn about POS and its integration with FBR. A POS system is significant in providing you visibility and reporting of your business sales, inventory, finance, accounts, […]

There are some special exemptions and concessions in the second schedule; we will see what they are and how they will influence you. Subsection 1 of section 53, the income or classes of income, or persons or classes of persons specified are enlisted in the Second Schedule and have some special rates, tax exemption or […]

Income Tax Returns Filing (ITRF) is a process in which you have to disclose your income and wealth statement to the FBR. The FBR every year gives 90 days to you for filing tax returns. And the deadline gets set for every 30th September for submission of tax returns. The FBR asks you about your […]