TAXATION SERVICES
There is no need to deal with the hassle of tax preparation when the experienced staff at Klair accounting can prepare and file your taxes for you. We guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities, maximize your cash flow, and keep you on track to your financial goals. Our expertise, experience, analysis, and thorough research allow us to optimize financial opportunities to be found in existing as well as recent tax law changes. Tax regulations, laws, and rules change every day, which requires professional expertise for tax preparation in Pakistan. We are knowledgeable and up-to-date on tax laws and also provide a broad range of personal and corporate tax preparation services to meet all the requirements of clients as well as government legislation.
SMART DECISIONS, LASTING VALUE
WHAT DO WE PROVIDE UNDER OUR TAXATION SERVICES UMBRELLA?
Go from Owner-led accounting to a professionally managed approach
INCOME TAX PREPARATION & FILING
Klair provides complete income tax filing services along with proficient consultancy services for both individual as well as corporate clients in Pakistan. From obtaining a National Tax Number (NTN)
SALES TAX PREPARATION & FILING
A Sales Tax Registration Number (STRN) or User ID and password are allocated to the taxpayers once they get registered with FBR. The online portal for filing Sales Tax Returns can be accessed using the same
NTN REGISTRATION:
NTN stands for National Tax Number. A company or an association of persons is assigned an NTN or a Registration Number when they are enrolled on the FBR (IRIS) portal. In the case of individuals, a 13-digit Computerized National Identity Card (CNIC) number will be used as an NTN or Registration Number. Services included for individuals, for Companies/Businesses, and for AOP.
The Klair Way
When it's time to minimize tax liability & and maximize cash flow.
BENEFITS OF COMPANY/ NTN REGISTRATION
FOR SALARIED INDIVIDUAL:
NTN is required by all salaried persons in Pakistan to file their income tax returns to the government of Pakistan. Having an NTN by a salaried person saves him from a comparatively higher withholding tax rate
FOR BUSINESS OWNERS:
As a businessman, it is really beneficial to have a valid NTN as NTN provides business strength to the business holders by providing a list of benefits and favors on banking transactions, vehicle purchasing,
FOR SALARIED INDIVIDUAL:
The Companies Ordinance, 1984 provides three different types of companies: A company limited by shares. A company limited by guarantee. An unlimited liability company. There are a number of legal and financial advantages to registering your company in Pakistan. Legally registration
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How do I register with FBR for Income Tax Filing in Pakistan?
You can easily get registered to FBR for income tax returns by enrolling yourself in the FBR (IRIS) portal. Whether you are an individual, a company an association of persons (AOP) or a foreign national, you need income tax registration before filing income tax returns. Remember that any mistake in the registration process can lead to penalties and fines. We are here to obtain your income tax registration number from FBR. Whether you are a resident or non-resident, we are providing services to individuals as well as corporations. Feel free to contact us to obtain your income tax registration certificate quickly from FBR and file your income tax returns in a timely manner.
How do I claim my FBR Income Tax Refund?
Income Tax Refund can be claimed from FBR by filing a separate application in Iris, the online income tax portal by FBR. The status of the income tax refund application can be checked by visiting the concerned Regional Tax Office (RTO). The refund can also be claimed within two (02) years from the date of filing of return (date of assessment) or from the date on which the tax was paid.
What are the categories of Sales Tax Returns in Pakistan?
There are four categories of FBR sales tax return filing in Pakistan for taxpayers. Check your specifications from the following categories that show your prescribed format of return filing in Pakistan.
Monthly sales tax return filing in Pakistan:
For the registered persons under the standard procedure. These individuals can file monthly sales return Annexure C on the 10th Payment on the 15th and return by the 18th day of the month. Quarterly sales tax return filing in Pakistan:
The registered persons who belong to the category of CNG are required to file the return on a quarterly basis.
Annual sales tax return filing in Pakistan:
For the registered manufacturers who are required to file annual Sales Tax returns by the 30th of September of the financial year.
Final sales tax return filing in Pakistan:
The registered individuals who apply for the de-registration procedure are required to file a final sales tax return to the appropriate Commissioner authority.
Is Sales Tax Refundable in Pakistan?
When the Input Tax is more than the Output Tax due in respect of a tax period, the registered persons can claim a GST refund from FBR. Your exports or other zero-rated supplies can become a reason for you to claim your sales tax refund from FBR because of the exceeding amount of input which is refundable.
What are the documents required for a Sales Tax Refund Claim?
The registered claimants are required to submit an application for a refund with complete name, address, registration number as well and the amount of sales tax refund claimed. Apart from the reason for the refund claim, other important documents required include Input tax invoices, payment proofs as well and relevant order copy. Within sixty days of the filing of the return, the taxpayers can file a refund claim for sales tax from the FBR.
The following list of necessary documents is required for filing your sales tax refund in Pakistan from the department:
Input tax invoices, goods declaration, etc. according to the refund claim case.
Output tax invoices as well as a summary of invoices for local zero-rated goods.
Goods declaration for export, i.e. quadruplicate copy with Mate Receipt number, date, airway bill, railway receipt, and postal receipt if the claim is made by the registered individuals other than manufacturer-cum-exporters.
Copy of House and Master bill of lading and airway bill, railway receipt in token or verification of the goods in case of export.
Input tax-paid statements by the registered individuals other than the manufacturers.
Bank credit advice and copy of the duty drawback order in case of commercial exporters.
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