There are many benefits of filing income taxes in Pakistan but most of the salaried persons don’t know them or are too much afraid of Tax Returns and FBR. Most of the salaried persons are engaged in multinational industries or factories that deduct the income tax at source (They get their salary after tax deduction) yet they don’t have NTN and don’t file taxes. These people can enjoy the maximum benefit of filing taxes as they are already paying their taxes.
FBR has made it mandatory for all salaried employees (government and private) having taxable income to file their income tax returns. They have also started sending random letters to people to register for NTN and file income statement as well as wealth statement. Since people are reluctant to get NTN and file taxes in Pakistan, government has made new rules so that filers enjoy the benefits while non-filers have to pay extra charges. This is just the beginning. The charges will keep on increasing for non-filers. So, a wise decision will be to get registered with FBR as soon as possible and enjoy the benefits.
Following table throws light on the benefits of becoming a filer:
Want to become a filer and enjoy benefits? Contact us or file this form: Registration Form
Want to Calculate income tax on your salary? Use our Tax Calculator: PTM Income Tax Calculator