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  • Making Tax Simple for People

    Making Tax Simple for People

    Tax is the country’s essential source of income, it is the first source of income for any country around the globe. Followed by tariffs, remittances, exports, and other miscellaneous sources of income. 

    Taxes are imposed upon the public, it is a certain form of financial charges that are collected by both the federal and provincial government. 

    Taxes are then utilized in order to govern the government, to spend the taxes’ amount on country welfare, development and public expenditures.

    What if I failed to pay the tax?

    Failure in order to pay the tax, try to resist, and escape from paying the taxes; it would be punishable by the regulatory tax laws of Pakistan and it is mobilized by the tax regulatory body of Pakistan. In order to maintain the sustainability of collecting the taxes in Pakistan and to sustain the tax culture.  

    Following are the few panealities, which I have to face, if I don’t comply with taxes.  

    1. Failure to file the tax returns within the due date: With reference to section 182 of ordinance in the constitution of Pakistan, “if you failed to file the tax return within the due date, then you will be charged a fixed penalty of Rs. 1000 upon filing the tax returns” 
    2. Income concealed or production of fake income particulars: If you concealed the income or put the forged particulars of income source, this is inclusive but not exclusive to the suppression of any income or the amount chargeable to tax. Accordingly section 111 of the ordinance in the constitution of Pakistan, ”you will have to pay a penalty of Rs. 100,000 or an amount equal to the tax which you sought to evade whichever could be even higher”.  

    There is a list of code of conducts and penalties, which is listed and illustrated by browsing the link: https://www.fbr.gov.pk/section-182/152727  

    Let’s discuss the tax in the Pakistan scenario.

    Taxation in Pakistan includes a large variety of taxes. Which are gathered from individuals and business communities in the society. The direct and indirect taxes are the renowned and most familiar ones among the people and the tax varieties. 

    We will further discuss tax in detail in this blog. 

    Types of Taxes and Why I must know its Importance?

    The tax structure in Pakistan and in fact in every country around the globe is surrounded to pay the taxes in the domain of the following given types, respectively, 

    1. Direct Tax. 
    2. Indirect Tax. 

    Both the above-mentioned types of tax will be explained into their subcategories.

    Direct Tax: 

    It is such a type of tax, where the individual and business community is bound to pay tax directly to the government, taxes which are imposed by their respective government on their income earned. Mentioned status holders have to pay their taxes on their own; no other person than them can pay their taxes.  

    Indirect Tax: 

    It is such a type of tax, where the individual and business community is bound to pay tax indirectly to the government, in the form of selling and purchasing of any good or availing of any service, sales tax, excise duty, and custom duty. Contrasting with direct taxes, indirect taxes can be paid by anyone on the said person’s behalf. 

    Classification of Direct Tax: 

    In this category we will further explore the field of tax in the domain of direct taxes levied upon the individual class and business community of Pakistan. 

    • If you have an income source, whether from employment, business, or from any other work, you do come under the bracket of taxes set by the government of Pakistan in the tax year 2021.  
    • If your income being a salaried person ranges from Pkr. 600,000 – Pkr. 75,000,000 annually, then you will be taxed by the taxable amount and imposed surplus tax rates if your income exceeds the taxable salary range.   
    • If your income being a business class ranges from Pkr. 400,000 – Pkr. 60,00,000 annually, then your case is the same as a salaried person, but the business class has to pay the different taxable amount and also surtax rate on the amount exceeding the taxable amount range. 
    • The corporate tax is imposed upon the net taxable income earned by the companies. The corporate tax rate for the tax year 2020 was 29%. The tax rate for small scale of companies was 23%, this will be lowered by 1% until the tax year 2023.  
    • There exists actually no surtax for the corporate sector in Pakistan; the FBR tax governing body has set the tax parameters on which corporations have to pay the fixed tax rate on their income earned.

    For reference and further information, you can check tax slabs: https://taxsummaries.pwc.com/pakistan/individual/taxes-on-personal-income   

    As far as the timeline of corporate tax is concerned, you can check the past years tax rates by clicking on the link: https://tradingeconomics.com/pakistan/corporate-tax-rate  

    Classification of Indirect Taxes: 

    In this category we will further explore the field of tax in the domain of indirect taxes levied upon the goods, services, excise duty, and custom duty in Pakistan. 

    • It is very important to note that the Indirect taxes are shared between the federal and provincial governments, as per the 18th amendment in the Constitutional Law of Pakistan. The federal government is adhered to imposed tax on goods whereas  provincial governments are entitled to charge tax on services.  
    • The tax collection rights have been shared among them and therefore in this response multiple provincial tax collection bodies were developed to administrate and govern tax activities in their respective provincial territories. 

    Here is the list of indirect taxes (sales tax) rates applied in overall Pakistan: 

    1. Federal uniformed (Sales tax) on goods: 17% 
    2. Sindh (sales tax) on services: 13% 
    3. Punjab (Sales tax) on services: 16% 
    4. Balochistan (Sales tax) on services: 15% 
    5. Khyber Pakhtunkhwa (KPK) (Sales tax) on services: 15% 
    6. Islamabad Capital Territory (ICT) (Sales tax) on services: 16%
    • The excise duty is the duty which the manufacturer of any goods or supplier of the services have to bear and the sales tax have to be burdened by the end-consumer. Within the defined territory where the said functions are operating. The excise duty varies from industry to industry, it is not uniformed like sales tax. 
    • The custom duty is the duty which the end-consumers have to pay to the customs department on the imported item which they bought from any country abroad and also the people who are exporting any sort of item to abroad country. The custom duty varies from industry to industry and product’s model to model.   

    For reference and further information regarding the indirect tax, click on the given link: https://en.wikipedia.org/wiki/Taxation_in_Pakistan  

  • Important facts to know about NTN Registration

    Important facts to know about NTN Registration

    Individuals, companies or association of persons (AOP) or even foreign nationals are considered as registered, when they are e-enrolled on FBR’s IRIS portal.
    Once a person completes E-Enrollment process with FBR, he/she is provided with a National Tax Number (NTN) or Registration Number and password for filing the tax return.
    In case of an individual, the Computerized National Identity Card (CNIC) is used as NTN or Registration Number, whereas, in case of a Company or AOP, NTN or Registration Number is the 7 digits NTN after following e-enrollment process.
    The credentials received after completion of e-enrollment process allows the tax filers access to IRIS portal – an online Income Tax Filing system by FBR, which is only way through which online Income Tax Return can be filed.
    With Befiler.com, the NTN registration is super easy. Individuals can simply signup and upload copy of their CNIC, and a tax expert from Befiler will complete the verification process with FBR and register the NTN. Businesses can also apply for NTN using Befiler.com by simply uploading their incorporation / business registration along with copy of utility bill, property title document / rent agreement and letterhead.

  • TAX FILING FOR SALARIED INDIVIDUALS

    TAX FILING FOR SALARIED INDIVIDUALS

    If you’ve got a job with a regular paycheck, you’re almost certainly already paying taxes. Chances are that your employer withholds the taxes on your salary income and deposits them in government’s treasury. However, you’re still required to file your tax return to become a tax compliant citizen and avoid paying additional taxes levied on non-filers.
    For starters, the tax withheld on your salary isn’t always correct. Your economic activities including savings and investments can have a significant impact on your taxes. You may be able to reduce the taxes on account of tax credits and rebates provided for in the tax law, and thus, get an adjustment / refund against the taxes that are deducted from your salary. On the other hand, you might have other income sources that are not considered by your employer for determining your tax rate and, which may result in increasing your tax liability.
    The bottom line is that you’re required to file a tax return every year if you have taxable income, or if you own certain class of assets like property or motor vehicle. With Befiler.com, you can easily follow a simple process to determine whether you are eligible for tax credits to reduce your tax liability or owe taxes in addition to what you’ve already paid, and thereafter file your tax return in the most convenient manner.

  • TAX AMNESTY SCHEME 2019

    TAX AMNESTY SCHEME 2019

    ASSET DECLARATION SCHEME IN BRIEF

    Who comes under this Scheme?

    All persons covered under this Scheme except the following:

    • Public Office holders, their spouses, dependents and benamindars
    • Public Company ( as defined in section 2(47) of the Income Tax Ordinance)

    What Assets are covered under this Scheme?

    All Assets Covered under the Scheme Including:

    • Benami Assets acquired and held on or before the Date of Declaration
    • Undisclosed Assets – Pakistan & Abroad Acquired Up to 30th June 2018
    • Undisclosed Sales & Expenditures made incurred Up to 30th June 2018

    What Items are excluded from Amnesty Scheme?

    • Assets, Sales & Expenditures where proceedings are pending in the court of law
    • Assets, Sales & Expenditures where tax proceedings initiated have been finalized
    • Assets / proceeds derived from Criminal Activities
    • Gold & Precious Stones
    • Bearer Assets Including Bearer Prize Bonds & other financial instruments

    Mode & Manner to be used for Repatriation & Declaration of Assets held Outside Pakistan

    • Cash & Foreign Currency are to be deposited in bank accounts and held up to 30th June 2019, or invested in Pakistan Banao Certificates or other FCY Government bond
    • The State Bank of Pakistan has prescribed the mode & manner of repatriation of Assets held outside Pakistan and Payment of Tax thereon

    What Else Should you know:

    • No allowance, credits or deduction under any law for the time being in force shall be available for assets so incorporated.
    • Where a declarant has made declaration under section 6, he shall be entitled to incorporate such assets, income or sales in his Income Tax Returns, wealth Statement and Books of Accounts.
    • This Scheme is Valid until 30th June 2019
    • Any tax or default surcharge paid under this Ordinance shall not be refundable.
    • Declarations made under this scheme is not valid evidence for prosecution under any law

    CLASS OF UNDISCLOSED

    ASSET OR INCOME

    VALUE OF ASSETS OR INCOME

    TAX RATES
    Domestic Immovable Property 150% of FBR Value or DC Value Which Ever is Higher 1.5%
    Foreign Liquid Assets not Repatriated Higher of Fair Market Value or Cost Translated at date of Declaration 6%
    Foreign Liquid Assets Repatriated Same as Above 4%
    Unexplained Expenditures Higher of Fair Market Value or Cost 4%
    Undisclosed Sales 2%
    Other Assets both Domestic & Foreign 4%
    Foreign Immovable Property 4%
    Foreign currency held in Foreign currency account in Pakistan 4%

    TIME OF PAYMENT

    DEFAULT SURCHARGE
    Up to 30 June 2019 0% Default Surcharge
    01st July to 30th September 2019 10% of Tax Amount
    01st October to 31st December 2019 20% of Tax Amount
    01st January 2020 to 31st March 2020 30% of Tax Amount
    01st April 2020 to 30th June 2020 40% of Tax Amount

    For further queries and assistance in filing asset declarations:

    Phone:  +92 21 35243578-9
    Email: info@befiler.com

  • Federal Budget for Financial Year 2019 – 2020

    Federal Budget for Financial Year 2019 – 2020

    Quick Glance at Major Changes

    The government is projecting GDP to grow by 4% in the coming fiscal year, despite the fact that the economy missed almost all major targets that were defined during the FY19. For instance, GDP grew by 3.3% against a target of 6.3%. Similarly, the fiscal deficit for the FY19 is expected to reach 7% compared to a target of 5%.
    The incumbent government has implemented significant economic stabilization measures which has resulted in achieving some success in assisting economy to progress towards stability and growth. For instance, as a result of tight fiscal and monetary policy the current account deficit narrowed to approximately 4% in the FY19 compared to 6.1 % in the FY18.
    Below are some major changes proposed in the federal budget 2019 – 2020:

    Proposed Measures to Increase Revenue:

     

    • The concept of ‘filer’ and non-filer’ proposed to be completely abolished from the Income Tax Ordinance, 2001
    • Tenth Schedule proposed to be inserted to provide complete framework for dealing with persons not appearing in the Active Taxpayers’ List including rates of deduction / collection of tax, filing of returns, assessments etc. in order to forcefully bring them in the tax net.
    • Purchase of immoveable property having fair market value of five million rupees or more and any other asset having fair market value of one million rupees or more, required to be transacted through banking channel.
    • Major shift in taxation of gain on sale of immovable properties proposed.
    • For open plots of land, if the holding period exceeds 1 year and does not exceed 10 years, the gain chargeable to tax will be reduced by 25% and taxed at normal rate. After 10 years, any capital gain will be exempt.
    • For constructed property if the holding period exceeds 1 year and does not exceed 5 years, the gain chargeable to tax will be reduced by 25% and taxed at normal rate. After 5 years, any capital gain will be exempt.
    • Minimum taxable income threshold reduced from PKR1.2mn p.a to PKR600k p.a for salaried and PKR 400k for non-salaried individuals.
    • The bill has proposed that an individual will be considered a resident in Pakistan if the stay in Pakistan is for 90 days or more, instead of 183 days or more in any one tax year and in aggregate 365 days in four preceding years.
    • Gifts other than those received from grandparents, parents, spouse, real brother, real sister, son or a daughter will be subject to taxation.
    • The threshold for exempt foreign remittances received under section 111(4) proposed to be reduced to five million rupees in a tax year from the present threshold of ten million rupees.
    • The Bill has proposed amendments aimed to bring a substantial shift with respect to taxation of following income, whereby the tax collected / paid on such income is to be treated as minimum tax instead of final tax–
      • Income arising from commercial imports
      • Income from profit on debt (other than a company
      • Income arising to a non-resident person on account of certain contracts and services
      • Income arising from supply of goods
      • Income from execution of contracts except for a contract in respect of a sportsperson
      • Commission income
      • Income of CNG Stations
    • Restoration of Normal Tax Regime and 17% FED for Steel Sector on billets, ingots, bars, ship plates etc.
    • The Bill proposes to seek a new proviso in clause (99A) whereby profit and gains on sale of immoveable property to a rental REIT Scheme shall be exempt from tax upto 30 June 2021.
    • Increase in fixed value of gas supplied to CNG dealers from PKR64.80/kg to PKR74.04/kg
    • Increase in Sales Tax on Sugar from 8% to 17% and increase in FED on Cement from PKR 75/bag to PKR 100/bag.
    • Increase in FED on cigarettes from PKR 700 to PKR 1000 per 1000 sticks.
    • Increase in tax rate on income from debt to 15-20% from earlier 10-15%.
    • Freezing Tax Rates for Companies at 29% for the next two years.
    • Tax credit of 10% for investment in BMR will be abolished after June’19. For tax year 2019-2020, the tax credit is being reduced from 10% to 5% for BMR.
    • Normalization in tax rate to 15% on dividend income, originating from power generation companies or coal supplying companies.
    • For tier-1 retailer, it may be made mandatory to integrate their points of sales (POSs) with FBR’s Computerized System.
    • Retail shops having an area in excess of 1000 square feet may be included in Tier-1.
    • Customers of Tier-1 retailer may receive cash back up to 5% of the sales tax paid on their purchases.
    • The Tier-1 retailers shall pay sales tax at the applicable rates and will no more have option to pay sales tax on turnover basis or at the rates specified in SRO 1125.
    • Disclosures and tax rates for real estate significantly enhanced.
    • Minimum turnover tax is increased from 0.2-1.25% to 0.25-1.5%.
    • Exemption of duty on import of plant and machinery for setting up hydrocracker plants for oil refining.
    • Increase in sales tax on finished textile goods to 17%.
    • Withdrawal of zero rating for the textile sector.
    • Import duty exempted for 19 items of raw materials and essential items of medicinal use
    • Proposal to increase FED from 16% to 17% on Vegetable ghee and cooking oil. Concessional rate on edible seeds removed.

     

    Areas of Major Relief

    • Allocation of PKR 80bn for industrial sector (PKR 40bn for concessionary gas & electricity; PKR 40bn for export sector).
    • Removal of ban on export of PMC and PVC to Afghanistan and zero-rating on export of PMC and PVC to Afghanistan.
    • Sales tax reduced rate from 17% to 7.5% on food related inputs such as meat, vegetables, flour etc.
    • Reduction of rate of sales tax on concentrated milk (powder) is proposed at 10%.
    • Additional sales tax of 2% on electricity and gas appliances, foam, confectionary, arms, batteries, lubricants, auto parts, tyres, etc. to be removed.
    • Withdrawal of 3% Value Addition Tax on Petroleum Products and on import of mobile phones.
    • Fixed sales tax on Brick Kilns at standard rate of 17%.
    • Exemption of Custom duty on medicines for certain diseases.
    • Allowing zero-rating on supply of tobacco to exporters.
  • How Do I Become a Tax Filer in Pakistan?

    How Do I Become a Tax Filer in Pakistan?

    The tax filing process including NTN registration in Pakistan is easy and swift with Befiler.com. You can simply sign in to start filing you income tax by answering easy questions. If you are looking for a tax estimator before you start, use Befiler’s tax calculator to verify, or cross check tax deducted on your salary slip.

    Let’s follows the process by answering some important questions:

    Who should file a Tax Return?

    Under Pakistan’s law tax law, all citizens, individuals and businesses with an annual income of Rs. 400,000 and above are required to file their tax returns annually. Once you have filed your return before the deadline announced by the FBR – Federal Bureau of Revenue, your name will be added in Active Payers List, commonly known as the Active Taxpayer List (ATL). ATL allows you to avail the benefits of paying lower taxes on financial transactions such as bank transactions, sale or purchase of vehicle and property, etc. Salaried individuals whose tax is deducted at source do not automatically assume the filer status. You can only become a filer when you file your tax return.

    How can I get NTN number in Pakistan?

    NTN – National Tax Number is a unique identity number allotted to all individuals, and businesses for tax purposes. If you are wondering how to get an NTN number in Pakistan, watch the video NTN Registration with Befiler to follow three easy steps. If you already have an NTN number, use Befiler’s homepage for your NTN verification.

    How do I submit a tax Return?

    Once you have registered your NTN, you can sign in using your befiler account to start the process. By answering easy questions and entering relevant values, you will be getting closer to the final preparation of your tax return. Please note that you will not be required to upload or submit any documents to befiler.com. But it is a good idea to have the values of important documents noted before you start the process. Click on link Information required to Submit Tax Return to find out what information is required. To finish off the return preparation, review the return, and enter your FRB credentials before you proceed to make the payment.

  • Befiler’s Role in Improving Tax Awareness and Education in Pakistan

    Befiler’s Role in Improving Tax Awareness and Education in Pakistan

    Tax awareness is becoming increasingly important as the government makes all the necessary adjustments to promote the culture of documentation. This will allow the transactions of properties, vehicles, loans etc., to be screened and monitored by the authorities, and bringing under the radar all the non-compliant individuals.

    The central regulatory body along with the government of Pakistan is geared up to motivate the citizens to meet their national obligation to increase the tax to GDP ratio for a strong and prosperous economy. A number of laws have been introduced to facilitate the filers, and to encourage non-filers to change their status to filers. Amidst the coordinated efforts by these institutions, www.befiler.com has taken it upon itself to provide tax awareness and tax education to anyone looking to become income tax filer in Pakistan.

    Tax Awareness and Education

    It is of prime importance that the individuals know their taxes well. A tax-complaint society is only possible when the individuals have access to tax related information and content. It allows them to make better financial decisions that facilitate tax rebates, be eligible for important processes such as student, or housing loans, and immigration.

    Befiler Information Outlets

    Befiler.com is using an array of its social media accounts such as Facebook, YouTube, LinkedIn, and twitter to impart all the latest updates on tax laws. Anyone who is looking to learn more about NTN verification, or salary tax calculator can do so without any hassle using Befiler.com.

    Individuals who wish to speak to a tax consultant to get clarity on matters such as wealth reconciliation, applicable tax slabs, determination of tax period of newly purchased vehicles, or property, or discuss their special case tax treatment are assisted online via live chat, and email support.

    To receive descriptive content discussing NTN registration, use of tax calculator, documents needed to become a filer, and the likes, subscribe to the mailing list, or read blogs at Befiler.com

  • Online Tax Filing Culture in Pakistan : A Trend on the Rise

    Online Tax Filing Culture in Pakistan : A Trend on the Rise

    Pakistan has shown a positive response to the online tax filing culture by readily adopting simplifying technology offered for individuals’ income tax return filing

    Developed economies show a positive attitude towards accepting e-services to avail services like NTN registration, and to become a filer using online solutions. Unfortunately, the system available in Pakistan for the masses is complex,which causes individuals to reach out for professional help.

    To cater to the situation, Befiler.com has created a smart online tax return portal that eases out the way to receive NTN registration and file tax returns. Tax filer requirements in Pakistan are not commonly understood, therefore, Befiler uses a user friendly, content rich approach to connect to its customers. This innovation in tax preparation is aimed at espousing national culture of online tax filing. Easy format of Yes and No questions and separate divisions to submit information make the tax preparation process easy, and doable for all.

    Electronic tax filing culture helps the individuals to enter multiple sources of income, as required, and fill information accordingly in a step-wise manner. The format splits income and other financial heads required for wealth statement into sub-categories to improve the degree of transparency in declaring the detailed information of personal assets and possessions. Better accuracy minimizes the possibilities for future inquiries from FBR, as well as helps tax saving by identifying financial activities that lead to tax rebates.

    Signing and submitting tax return through befiler.com creates detailed online reports of all the earlier years as you continue to use befiler.com year over year. You can login instantly from anywhere and retrieve the required statistics in minutes. No more wasting hours to dig inside the manuscripts and copies to find particular figures. 

    To move ahead towards an emerging economy, it is necessary for individuals to understand and show positive intentions to the adoption of online tax filing culture. Befiler is drawing individuals closer to accept new technologies and advents by providing a tax preparation platform that is easy to work with. If you intent to engage in ways making e-filing efficient, stay connected to Youtube, Facebook, Linkedin, Pinterest, Twitter, and give a read to our blogs.

  • More Incentives, More Reasons to Become Filer

    More Incentives, More Reasons to Become Filer

    The second mini budget was finally unveiled by Finance Minister on January 23, 2019. The Govt. has proposed has offered various incentives to capital markets and industries including agriculture, small and medium enterprises (SMEs), banks and automobile industry, in particular as part of the proposal. Some of the key incentives that should boost business and investors’ confidence are as follows:

    ·       Removal of tax on undistributed reserves by listed companies

    ·       Reduction in filing requirement of monthly advance tax return by withholding agents to bi-annual

    ·       No super tax on banking sector

    ·       Reduction of tax on inter-company dividends for group companies

    ·   Reduction in tax rates on banks’ interest income from advances given to Micro, SME, Low Cost Housing Finance and Farm Credit.

    The government has also proposed some additional incentives to filers and / or additional taxes for non-filers as outlined below:

    ·       50% increase in rates of Advance Tax on registration of motor vehicles for NON-FILERS:

    S. No

    Engine Capacity

    Tax for Non-Filers

    Current

    Proposed

    1

    850   cc or below

    10,000

    15,000

    2

    851   cc – 1000 cc

    25,000

    37,500

    3

    1001 cc – 1300 cc

    40,000

    60,000

    4

    1301 cc – 1600 cc

    100,000

    150,000

    5

    1601 cc – 1800 cc

    150,000

    225,000

    6

    1801 cc – 2000 cc

    200,000

    300,000

    7

    2001 cc – 2500 cc

    300,000

    450,000

    8

    2501 cc – 3000 cc

    400,000

    600,000

    9

    Above 3000cc

    450,000

    675,000

     

    ·       No Advance Tax on Cash Withdrawals and Banking Transactions for FILERS.

    ·    Option to carry forward capital losses on sale of securities for up to three years from tax year 2019 onwards.

    It is only a matter of time, and one expects that the government will continue to offer more incentives to filers and tighten the noose for non-filers.

     

    Have any questions or comments? Shoot us an email at info@befiler.com or call us at (021) 35303294-6 during office hours. 

     

    Don’t forget to like us on Facebook and give us your feedback.

  • Information Needed to File an Income Tax Return

    Information Needed to File an Income Tax Return

    Befiler.com is an online web portal through which you can prepare and file your income tax return in a hassle-free manner. One of the biggest challenges it addresses is the compilation of documents and submission of information. Now you will no longer have to plan a day off from work to schedule meeting with the tax consultant, or make copies of the documents to be submitted.

    From the comfort of your home, or even office, simply log on to www.befiler.com and sign up for a free account. A great way to start is watching the tutorial video which walks you through the process. To prepare and submit tax return using Befiler.com you will be required to know the following:

    1.      Your annual income from salary, and annual tax deductions.

    Pro Tip: You can calculate your annual tax on salary using Befiler’s tax calculator. Request a tax certificate from your Human Resource department for verification.

    2.      Any or all, as applicable:

    • Rental income received from property
    • Profits received from banks, mutual funds, or other financial deposits
    • Pension payment that may have been received during the tax year
    • Earnings / receipts from other sources such as agricultural income, bonus share, or remittance
    • Gift, or payments made to registered charities
    • Cost of purchase / value of sale in case of property transactions
    • Investment made in mutual funds, shares, or life insurance
    • Advanced tax paid on banking transactions, purchase of vehicles, utilities, etc.
    • Opening, and closing bank statement for current tax year
    • List of properties including property address, covered area, and cost of property
    • Assets acquired in Pakistan, as well as foreign assets
    • Details of liabilities including advance, loan, mortgage, and payable credits
    • Details of assets such as depository certificates, stock, insurance plans, and assets in other financial institutions such as gold in lockers, etc.
    • Personal expenses paid as rent, bills, medical expenses, traveling, educational expenses, taxes, functional / gathering expenses, and other household expenses

    You are not required to submit, or upload any of the above mentioned documents. You will only be required to enter value/amount while answering the question in a YES or No format.

    Should you require any additional information, simply write to us at Info@befiler.com and our customer care representative will call you to address your query.