TAX

  Consequences of Not Filing Income Tax Returns in Pakistan FBR’s Enforcement Measures In Pakistan, neglecting to file an income tax return within the designated tax year triggers a series of actions by the Federal Board of Revenue (FBR). Individuals who fail to fulfill this obligation are subject to a formal notice from the Commissioner […]

Integrated Risk Information System-IRIS Stands for Integrated Risk Information System, is a tax filing and processing system used by the Federal Board of Revenue (FBR) in Pakistan. It is an online portal where taxpayers can manage various tax-related activities, such as submitting tax returns, responding to tax notices, filing sales tax returns, and handling other

  IMF and Pakistan Edge Towards Agreement: Tax Reforms, Circular Debt, and Austerity Measures in Focus The latest developments regarding Pakistan and the International Monetary Fund (IMF) involve their completion of talks related to the first review of a $3 billion stand-by arrangement. Kristalina Georgieva, the IMF’s Managing Director, expects an agreement on Pakistan’s review

How to file tax return in Pakistan Registration for National Tax Number (NTN) or Sales Tax Registration Number (STRN) 1.    Get Registered: If you’re not already registered, you need to get a National Tax Number (NTN) or Sales Tax Registration Number (STRN) from the Federal Board of Revenue. This can be done online through the

Businesses in Pakistan Real estate businesses in Pakistan are subject to various taxes and regulations imposed by the federal and provincial governments. This article aims to provide an overview of the taxation of real estate businesses in Pakistan, including definitions and examples. Definitions Before discussing the taxation of real estate businesses in Pakistan, it is

The impact of Pakistan’s tax system on the startup ecosystem Pakistan is a country with immense potential for entrepreneurship and innovation. It has the fifth largest population in the world, with a median age of 22 and a large number of English speakers. It also has a fast-growing middle class, a high penetration of mobile

Tax implications of company registration in Pakistan If you are planning to start or expand your business in Pakistan, you may be wondering about the tax implications of company registration in Pakistan. Registering your company with the government of Pakistan can offer you several benefits, such as limited liability protection, tax deductions, enhanced credibility, ease

Tax Deductions Available for Pakistani Taxpayers Introduction   Tax deductions are an essential aspect of any country’s tax system, including Pakistan. They provide taxpayers with opportunities to reduce their taxable income, ultimately resulting in lower tax liabilities. Understanding the available tax deductions can help individuals and businesses make the most of their financial planning while

  Registration for income tax Paying taxes is a civic duty and an essential aspect of contributing to a country’s development. In pakistan, it is mandatory for eligible individuals and businesses to register for income tax and file their returns annually. This blog post aims to guide you through the process of income tax registration