Another Chance by FBR for non-filers to become Filers
Another chance to become filer.
The Federal Board of Revenue (FBR) has extended the date for submission of Income Tax Return for the year 2018. It is very important to note that FBR has also announced that in order to be in the filer List, taxpayer has to submit their Income Tax Return within due date. Submitting your income tax return after the specified due date would not include you in the Filer list. Previously the due date for submission was 17 December 2018. But Govt. of Pakistan had decided to give some time to taxpayer who filed late or were unable to file their annual return and extended the due date to 31st March 2019. Now the FBR has decided to further extend the due date till 30th April 2019.
You may access circular from FBR website Click here for Circular extending due date of Income Tax Returns Click here
Become filer in four simple steps
After the Govt. of Pakistan decided to
extend the due date for submission of Income Tax return till 31st
March 2019, the Federal Board of revenue has announced to further extend the
due date till 30th April 2019. So this is the best time for new
filers to get on board. Here are some simple four steps through which you can
get yourself in the filer list.
- Get your National Tax Number. You
need to provide your CNIC number, your Cell number (Active in Pakistan) and
your email address.
- Based on your income i.e.
Salary or business we can file your Income Tax Return.
- Based on the information you
provide, we can prepare your Wealth statement.
- You will become filer within 12
Business hours.
Good News for Non-resident Pakistanis
The Federal Board of Revenue has decided to
extend the due date for submission of income tax return till 30th
June 2019. This is a big opportunity for all the Pakistanis residing abroad and
are non-resident for tax purpose in Pakistan. After the initiative taken by the
current government regarding filers that whoever filed the Income Tax return
for the year 2018 in due date will be added to Active Taxpayer filer list, this
has impacted hugely to those Pakistani who are Non-resident (still non-filer)
and because of some strict initiatives taken by the Government for non-filers.
So, worry no more, and become filer before 30th April 2019 and enjoy
the benefits as a filer provided by the Govt. of Pakistan. Some key comparison
between being filer Vs being non-filer
Filer
Non-Filer
Tax on Cash withdrawal over Rs.50,000 |
NO
|
Tax on Cash withdrawal over Rs.50,000
|
YES
|
Tax on Transfer of funds over Rs.25,000 |
NO
|
Tax on Transfer of funds over Rs.25,000
|
YES
|
Purchase of Car over 1300 cc Possible |
YES
|
Purchase of Car over 1300 cc Possible
|
NO
|
Purchase of Property over Rs.40 million possible |
YES
| Purchase of Property over Rs.40 million possible |
NO
|
The Pros and Cons for filer and non-filer
list is longer than you think. So, don’t waste time and become filer in four
simple Steps.
Read moreGood news for non-filers & late filers Tax year 2018!!!
Good news!!!
FBR lately announced extension in date of filing returns for tax year 2018 which gives another chance for non-filers to become filer and a ray of hope for persons who filed their returns late i.e. after 17th December 2018.
Read moreHow non-resident Pakistani files Income Tax Return in Pakistan
If you are here to read this article, then there are two certain things, one is that you are Pakistani and second, you are living abroad.
If you are searching for a solution for how to file income tax returns in Pakistan then you should stop here as I am going to answer each and every question that might pop up in your mind and you would want to know.
So here are some common questions and their quick answers.
Read moreSummary on Finance Acts, 2018
This document contains amendments made in relevant laws through Finance Bill 2018 (i.e. Tax year starting from 1 July 2018 to 30 June 2019) in Income Tax, Sales Tax, FED and Customs law.
We at Sharjeel Ayub & Co (Sayub) made an effort to present above mentioned amendments in simplest possible form so that readers get an understanding for proper tax planning.
The document can be used as handy tax rates guide that are applicable for the Tax year 2019.
Sayub comments contained in the documents represent our views / interpretations of the amendments therefore should not be taken conclusive on legal ground without our prior advice.
We sincerely believe that this document is simple and as precise as possible nevertheless, you may ask for further details by contacting us.
Please explore our website www.sayub.com for interactive guidance on Tax matters.
Read moreIncome tax return for tax year 2018; late filers would be treated as non-filers for the whole year
Income tax return filing for tax year just ended i.e. 30 June 2018 has greater significance as compared to previous years. In addition to penalties imposed by FBR for late filing of return, a person filing his /her return for tax year 2018 would not be included in ACTIVE FILERS’ list as published by FBR.
Late filing of returns would not get your name on ACTIVE FILERS’ LIST –FBR hence late filer would be treated as non-filers for the whole year
Read moreIs it real that 23rd June 2018 last date to become Income Tax filer? That’s Incorrect Read ME
Is it real that 23rd June 2018 last date to become Income Tax filer? That’s Incorrect Read ME
Have you just received a whatsapp message saying June 23, 2018 is the last date to become filer else your name will be updated in Active Taxpayers’ List (ATL) on 1st March 2019 ? if your answer is in affirmative then this article is for you.
Read moreTax Amnesty 2018 –Key points in simplest possible form
Tax Amnesty 2018 –Key points in simplest possible form
In Pakistan, Tax Amnesty 2018 is discussed in every corner society, we feel it necessary to enrich you with key points of this amnesty in simplest possible form.
Key points of amnesty schemes are
Read moreGovernment is going to punish Non-filers much harder this Time
Budget 2018 (Finance Act, 2018 Approved) had some good news as well not so good news sandwiched secretly for example lowest income tax rates in the history announced and implemented for Individual taxpayers(Salaried as well as Business Individuals), removal of law for automatic selection for tax audit if return is late filed.
However some really harsh steps were taken one of which is ‘If a person failed to file his/her Income Tax return within due dates then he will remain non-filer for the whole year even if he file it one day after the due date’
Read moreNon-resident Pakistani to File Return of Income or Not
All Non-resident Pakistanis out there must have encountered one question in their mind, that why we should file our income tax return in Pakistan as we are not there in Pakistan so it should not be obligatory on us to file return.
Despite of above, some if not all of us faced a situation where your banker deducts withholding tax all the transactions for withdrawal whether it’s in cash or through cheques.
Read moreHow to check Filer Status
If you are in Pakistan or non-resident Pakistani having bank accounts or other assets or source of income in Pakistan then you must have heard the term ‘Filer’.
Read more