Introduction
In Pakistan, companies are required to file multiple statutory returns with various government authorities, including the Securities and Exchange Commission of Pakistan (SECP), the Federal Board of Revenue (FBR), and provincial revenue boards. These returns serve to ensure regulatory compliance, tax transparency, and accurate public records.
Failure to timely file these returns can result in penalties, reputational risk, and even legal action. This guide covers the major statutory returns, their due dates, filing procedures, and best practices for companies of all sizes—especially private limited companies, public companies, and SMEs.
1. Annual and Periodic Returns with SECP
SECP requires companies to maintain updated corporate records through routine filings.
| Return Type | Form No. | Frequency | Deadline |
|---|---|---|---|
| Annual Return | Form A / B | Annually | Within 30 days of AGM or 365 days after incorporation |
| Director/Officer Changes | Form 29 | As needed | Within 15 days of change |
| Change in Registered Office | Form 21 | As needed | Within 15 days of change |
| Allotment of Shares | Form 3 | As needed | Within 45 days of allotment |
| Increase in Capital | Form 7 | As needed | Within 15 days of resolution |
| Change in Business Activity | Form 4 | As needed | Within 30 days of resolution |
| Amendment in MOA | Form 5 | As needed | Within 15 days of change |
Where to File: SECP eServices Portal
Penalty for Delay: Ranges from Rs. 5,000 to Rs. 100,000 depending on company type and delay duration
2. Federal Tax Returns and Reports (FBR)
All companies must register with FBR and comply with income and sales tax obligations.
| Return Type | Form / System | Frequency | Deadline |
|---|---|---|---|
| Income Tax Return | IRIS | Annually | Sept 30 (Individuals/AOPs) / Dec 31 (Companies) |
| Statement of Final Tax Deduction | Form 45 | Monthly | 15th of next month |
| Statement of Salary Deductions | Form 46 | Quarterly | Within 45 days |
| Sales Tax Return (if applicable) | STR-7 | Monthly | 15th of every month |
| Advance Tax Payments | IRIS | Quarterly | As per Sec. 147 ITO |
Where to File: FBR IRIS Portal
Penalty for Non-Compliance:
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U/S 182: Rs. 2,500/day or minimum Rs. 10,000 for late filing
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Penalty for non-filing or misreporting can reach Rs. 50,000+
3. Provincial Sales Tax on Services (PRA, SRB, KPRA, BRA)
If your business provides taxable services, you must file monthly returns with the respective provincial revenue authority.
| Province | Return Form | Frequency | Deadline |
|---|---|---|---|
| Punjab (PRA) | Form PST-03 | Monthly | 15th of each month |
| Sindh (SRB) | SRB Annex-C | Monthly | 18th of each month |
| KPRA | Online Portal | Monthly | 15th of each month |
| Balochistan (BRA) | BRA Web Form | Monthly | 15th of each month |
Penalty: Late filing can attract penalties between Rs. 10,000 and Rs. 100,000 plus default surcharge.
4. Employees’ Contribution and Payroll Statutory Returns
Employers must submit returns for contributions under social security and EOBI laws.
| Contribution Type | Authority | Return Frequency | Deadline |
|---|---|---|---|
| Social Security | PESSI / SESSI | Monthly | Before 15th of each month |
| EOBI Contributions | EOBI | Monthly | Before 15th of each month |
| Employee Income Tax Deduction | FBR | Monthly/Quarterly | See Form 45 / 46 above |
5. Annual Audited Financial Statements
Companies must file their audited financial statements with SECP and FBR.
| Requirement | Entity Type | Due Date |
|---|---|---|
| Audited Accounts (SECP) | All Companies | Within 30 days of AGM (public) |
| Tax Computation + Audit | All Taxpayers | With Income Tax Return filing |
6. Other Common Returns and Declarations
| Purpose | Form/Platform | Authority | Frequency |
|---|---|---|---|
| BO (Beneficial Ownership) Declaration | Form 45 | SECP | Annually/Update |
| Declaration under AML Act | STR/CTR filing | FMU/SECP | As needed |
| Foreign Shareholding Report | SECP Reporting | SECP | Annual / Update |
| Data Security / IT Compliance (if listed) | PSX/SECP Circulars | SECP/PSX | Quarterly / Annually |
Best Practices for Managing Statutory Compliance
✅ Maintain a compliance calendar integrating FBR, SECP, and provincial deadlines
✅ Use cloud accounting & payroll systems for accurate reporting
✅ Assign a compliance officer or consultant for filing responsibilities
✅ Regularly audit internal records before filing statutory data
✅ Keep digital and physical records for 6–10 years per legal requirement
Consequences of Non-Compliance
| Authority | Consequence |
|---|---|
| SECP | Penalties, suspension of company status, disqualification of directors |
| FBR | Tax audits, heavy fines, blacklisting, disallowance of expenses |
| PRA/SRB | Penalties, notices, and possible license cancellation |
| EOBI/PESSI | Legal prosecution, fines, employee disputes |
Conclusion
Filing multiple statutory returns is an ongoing responsibility that businesses in Pakistan cannot afford to ignore. Whether you’re managing SECP changes, FBR filings, or provincial sales tax returns, a systematic approach and professional support can help your business stay compliant, avoid penalties, and build credibility with regulators and stakeholders.
Need help managing your statutory filings?
At Sterling Consultancy, we specialize in:
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SECP and FBR return filing
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Sales tax compliance across all provinces
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EOBI, PESSI, and payroll tax compliance
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Corporate recordkeeping and regulatory audits
