A tax filer, whether an individual or an organization, is responsible for reporting taxes levied on various forms of businesses to the Federal Board of Revenue (FBR).
They play a crucial role in assisting businesses in meticulously maintaining their financial records, including revenue and the corresponding tax liabilities. This responsibility extends to individuals, corporations, trusts, estates, and other corporate entities.
Documents Required for Becoming a Tax Filer in Pakistan
It is important to keep the following documents before filing:
- Copy of CNIC
- Complete income made throughout the last
- Bank statements and certifications suggest the tax obligation deductions you make.
- Your bank statement for the present
- Complete details of properties owned by you
- Registered cell number
Becoming a tax filer is a simple and straightforward process. While this is simple, it is an important process and must be followed by individuals and businesses. Here’s a step-by-step guide to becoming a tax filer.
Verify your Eligibility Status
Before filing your taxes, it is imperative to comprehend the eligibility criteria in Pakistan. Taxation applies to individuals with taxable income, as well as to businesses and various entities operating within the country. If you find yourself unsure about your eligibility, consider seeking guidance from a tax professional or refer to the information provided on the official Federal Board of Revenue (FBR) website.
Visit the FBR Site
First of all, visit the official website of FBR. Search for the “Online Services” section. Among the list of available online services, select “Filer Status Inquiry.”
Input your National Tax Number (NTN)
You will be prompted to enter your unique National Tax Number (NTN), specifically assigned to Pakistan’s tax filers. You can also apply for an NTN by visiting the nearest Regional Tax Office (RTO).
Verify your Filer Status
After inputting your NTN, the FBR website will display your current filer status, indicating whether you are recognised as a tax filer, a non-filer, or a provisional filer.
Register for Sales Tax (if applicable):
If your business is involved in selling goods or services, you may need to register for sales tax. This can also be done through the FBR’s online portal.
Maintain Proper Records
Keep accurate records of your income, expenses, and financial transactions. This documentation will be required when filing your tax returns.
File Your Tax Returns
Individuals should file their income tax returns annually by the specified due date, usually September 30th. Businesses should file their returns based on their specific financial year, which might differ from the calendar year. The due date for businesses is typically December 31st.
