Fintellect Consulting

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FBR Guidelines for Real Estate Sector - FATF Conditions for Paksitan Pakistan is struggling hard to meet the conditions of FATF (Financial Action Task Force) to come out of the gray list. Financial Action Task Force (FATF) is ...

انکم ٹیکس گوشوارے جمع کروانے کی تاریخ میں 15 یوم کی توسیع کا اعلان کردیاہے

انکم ٹیکس گوشوارے جمع کروانے کی تاریخ میں 15 اکتوبر تک توسیع کردی گئی ٹیکس ادا کرنے کے ساتھ جرمانے بھی بھریں تو پھر شراکت کے تناسب سے ترقیاتی فنڈز کیوں نہیں ملتے، کے سی سی آئی کا شکوہ

PM se request ki g*i hai, not decided yet .

PM requested for return filing date extension - Pkrevenue.com KTBA on Tuesday apprised Prime Minister Imran Khan about difficulties in filing of income tax returns and requested for date extension

FBR issues the clarification on tax exemption from Income of Exported IT Services
Federal Board of Revenue (FBR) has clarified news circulating on social media about a proposal to withdraw exemption available to income from exports of computer software or IT services or IT enabled services. FBR has clarified that under the current legal dispensation, the exports of computer software, IT Services or IT enabled services is exempt from tax as provided

ایکسپورٹ شدہ آئی ٹی سروسز سے حاصل ہونے والی آمدنی پر ٹیکس چھوٹ کے خاتمے کی خبریں بے بنیاد ہیں: ایف بی آر

کمپیوٹر سافٹ ویئر،آئی ٹی سروسز اور اس سے متعلقہ برآمد کی جانے والی خدمات کوٹیکس سے استثنی حاصل ہے۔تاہم یہ چھوٹ اس صورت میں مشروط ہے جب برآمد شدہ آمدنی کا 80فیصد حصہ بینکوں کے ذریعے پاکستان کو وایس بھیجا گیا ہو۔

FBR TAX RETURN FILLING
L A S T D A T E [[[[[[[[ 15 Oct 2021 ]]]]]]]]]

40% DISCOUNT for First 10 Customers

Salaried / Housewife: 5000 [after 50% discount Rs. 2500]
Business: 10000 [after 50% discount Rs. 5000]

News: No extension in Returns filing date after 30th September, FBR

ٹیکس گوشوارے داخل کرنے کی تاریخ میں توسیع نہیں کی جائے گی

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FBR Taxation Services

Become a filer - Rs.2,500
GST Registration - Rs.3,000
SST Registration - Rs.3,000
PST Registration - Rs.3,000
Income tax filing for individuals - Rs.2,500
Income tax filing for Companies - Rs.5,000

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Register your company
in 3 days for
Rs.10,000/-

LLP Rs. 5000
AOP Rs.5000
Sole Proprietor Rs.3500
NGO Rs. 85000
Private limited Rs. 10000
Single Member Private Limited Rs. 10000

* Get certified true copies of all company documents delivered to your desired address.

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0345 8542665

Tired of paying taxes on transactions? Fintelco always tries to make our customers relaxed and secure.

Become a filer, save taxes over transactions and sale purchases. For more information, you may call us or WhatsApp us at 0345 8542665.

If you want to become an urgent filer send us your following data to our whatsapp 0345 8542665

- Detail of your assets
- Banks Statements/WHT Statements
- Bank Account Details
- Sim Cards Detail and WHT
- Misscelsnious WHT details which you have paid.

After that one of our representatives will contact you for some verbal discussion and will process your returns asap.

Our service charges may vary depending on the length of your returns.

Muhammad Ali Jinnah, in 1896, became the youngest Indian to pass the law examination in England. At the remarkable age of 20, Jinnah was the only Muslim Barrister in the city of Bombay. He would later go on to become of the most successful lawyers of his time and the rest of his history.

Single Owner Firm 10,000
Single Owner Private Limited Company 15,000
Partnership Private Limited Company 20,000

NTN / GST / CHAMBER / IMPORT EXPORT License / PEC / CALL 0345 8542665
NGO / FIRM / Association
- Sole proprietor
- Single Member Company SMC
- Firm Partnership / unlimited liability
- Private limited company
- Foreign Company / branch liaison office
- Brand Registration (IPO)
- Complete Import/Export Business Registration
- NTN Registration (For Business/Salaried Individuals)
- General Sales Tax Registration (GST/STRN)
- Chamber of Commerce (ICCI) Membership
- PEC Construction Builders License
- WEBOC ID Registration (Import/Export License)
- Travels and Tours license
- Call Center Registration
- Software House Registration
- NGO / NPO Welfare Society
- Trademark/Logo Registration
- Patent Copyright Registration
- ISO Certification
For free assistance contact us:
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your 1st step towards success

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Fintellect Consulting

Wishing the Holy Month of Ramazan to all the Muslims around the globe.

May it bring more wisdom and peace in our lives.

Return filing made mandatory for computer software exporters
FBR White
ISLAMABAD: The filing of income tax return is mandatory for persons engaged in exporting computer software to avail 100 percent tax credit.

Sources in Federal Board of Revenue (FBR) on Saturday said that the exemptions for IT and IT enabled services had been withdrawn through Tax Laws (Second Amendment) Ordinance, 2021. However, a tax credit equal to 100 percent has been granted through the ordinance to facilitate the software exports.

The sources said that certain conditions have been introduced including making return filing mandatory and provision of income tax audit has been added through the latest amended ordinance.

Following new section has been added to Income Tax Ordinance, 2001 through Tax Laws (Second Amendment) Ordinance, 2021:

“65F Tax credit for certain persons.- (1) Income of following taxpayers shall be allowed a tax credit equal to one hundred per cent of the tax payable under any provisions of this Ordinance including minimum and final taxes for the period, to the extent, upon fulfillment of conditions and subject to limitations detailed as under: –

(a) persons engaged in coal mining projects in Sindh supplying coal exclusively to power generation projects;

(b) a startup as defined in clause (62A) of section 2 for the tax year in which the startup is certified by the Pakistan Software Export Board and the next following two tax years;

(c) persons deriving income from exports of computer software or IT services or IT enabled services upto the period ending on the 30th day of June, 2025:

Provided that eighty per cent of the export proceeds is brought into Pakistan in foreign exchange remitted from outside Pakistan through normal banking channels.

Explanation.- For the purpose of this clause, –

(i) “IT services” include software development, software maintenance, system integration, web design, web development, web hosting and network design; and

AMAZON FBA VAT

UK Vat who isn't confused about it? Even I made the wrong calculations finally after searching searching & searching I am making this post to make it easy to understand What is Vat & how does it work in UK!

Vat is basically Value addition tax when something is purchased Vat is paid doesn't matter if you are going to resell or going to use it personally you have to pay 20% Vat on purchasing.

Types of Vat & what is Best for those doing wholesale FBA.

Vat Unregistered :
When you are not Vat registered you only have to pay 20% Vat while purchasing & Amazon also charges 20% on your FBA fees. But their is no Vat on selling price then.
Threshold limit is for this is 85000.

Then there are 2 types of Vat schemes.
7.5% & 20% registered.

It will not matter if you are Vat registered or not you will always need to pay 20% Vat while purchasing inventory & this is called input Vat.

Once you are Vat registered you have to add your Vat number in Amazon Tax Setting once you do it Amazon won't charge Vat on it's FBA fees.

Now in 7.5% scheme your Vat would be 7.5% of the selling price, the disadvantage of this flat scheme is you can not claim input Vat which is paid while purchasing inventory.

Now in 20% scheme your vat would be 20% of the selling price and when you are 20% registered you can claim your input Vat.

Still confused Right? Because Vat is really confusing!

Sourcing price 10
With vat 12
FBA fees 5
Selling price 20

Unregistered account profit
20-12+(5)(1.2)=2

In amazon our selling price is actually inclusive of Vat so.

7.5% registered profit
20-1.4 - 12 - 5 = 1.6
Vat here is 1.4, divide selling price 20 with 1.075 then minus selling price with the answer
(20÷1.075)=18.604, (20-18.6) = 1.4
that is your Vat now for 7.5% scheme which you have to pay to government.

Once ag*in our selling price on Amazon is Vat Inclusive so we have to use reverse Vat calculation.

20% registered profit
20-3.3333-12-5+2=1.7

20÷6= 3.3333 this is for 20% calculation our selling price 20 which is inclusive of Vat.
+2 here is input Vat which we paid initially to supplier so we can claim it back in 20% scheme.
You will pay HMRC only 3.3333-2=1.3333, this is called payable Vat the difference between output - input & this is valid only for 20% scheme.

My recommendation for you if you are doing wholesale FBA get registered 20% Vat as soon as your LTD is registered the reason is the brands asks for Vat number & Vat certificates & It is quite beneficial for winning more accounts.

💥 Call/Whatsapp: +92 345 8542665

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Company registration and Trademark
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The income tax filer is entitled to many benefits by the government of Pakistan on those who do not file. By submitting an annual tax return, you can enjoy permission to file and reduce your taxes in many cases.

According to the source, The News following are the benefits to becoming a filer in Pakistan:

🌟 On bank transactions which include demand draft, cross-check or payment orders, tax filers pay zero tax as ag*inst Rs.600 tax on each bank transaction, paid through non-filers.

🌟 On cash withdrawal of more than Rs 50,000, taxpayers required to pay only 0.3 percent tax while non-filer pays 0.6 percent tax.

🌟 On bank’s profit, and saving scheme active tax filer pays 10 percent tax ag*inst the 15 percent tax paid by non-filers.

🌟 If a filer is an importer of raw materials, he will have to pay only a 5.5% tax on the import of raw materials whereas the non-filer has to pay 8% tax.

🌟 For commercial exports, filer exporters are required to pay only 6% duty on export of goods whereas non-filer exporters pay 9% duty.

🌟 On the supply of goods to the government and companies, taxpayers are required to pay 4.5% duty whereas non-filers pay 9% tax duty.

🌟 Tax filing contractors are required to pay a 7.5% tax on the amount of contracts while non-filers pay a 15% tax.

🌟 For the prize money of prize bonds, active taxpayers pay a 15% tax while non-filers pay 25% tax.

🌟 Similarly, on commission amount tax filer pays 12 percent tax whereas non-filer needs to pay 15 percent tax on same.

🌟 Tax filer is required to pay only half the holding tax as compared to the non-filer.

🌟 For vehicle registrations tax filer pays Rs 15000 to Rs 250,000 as withholding tax whereas non-filer pays Rs 25000 to Rs 400,000.

🌟 For vehicles annual token tax filers required to pay Rs 800 to 10,000 as compared to Rs 1200 to Rs 30,000 tax paid by non-filers.

🌟 There is no restriction for the tax filer to purchase any property worth more than Rs 50 million by the government as compared to non-filers.

🌟 For purchased property active taxpayers pay a 2% tax on the total amount of purchased property whereas non-filer required to pay a 4% tax.

🌟 In addition, filers pay only 1% tax on the transfer of property, while non-filers pay a 2% percent tax.

💥 Call/Whatsapp: 0345 8542665

Federal Board of Revenue will publish the Active Taxpayers’ List for Tax Year 2020 on 1st March, 2021 in accordance with the provisions of Rule 81B of Income Tax Rules, 2002.

Fintellect Consultants was established in 2009 to provide taxation services to our clients all over the world. Over a period of time, Fintellect Consultants has expanded its services spectrum by the inclusion of dynamic and experienced professionals to provide services regarding Tax & Corporate Advisory, Audit & Assurance, Business & Trade Mark Registration, Bookkeeping, Financial Modeling, implementation, and Consultancy. We are also providing Bookkeeping, Accounting, and Costing services to our International Clients based in the USA, Canada, UK, Australia, and the Middle East. Maximize the Business Growth of our clients by providing professional consultancy.

You can Call / SMS / Whatsapp 24/7 for free advice and discussion on the following matters:

🔆 National Tax Number (NTN) & registration of Federal Board of Revenue (FBR)

🔆 Filing annual Income Tax returns for business and individuals
🔆 Handling notices of tax authorities
🔆 Filing of appeals to challenge assessments/orders of tax authorities and assistance in tax audit

🔆 Guidance to freelancers regarding taxations requirements
🔆 Guidance to Non-resident Pakistanis / Expatriates (individuals Pakistanis residing abroad) regarding the filing of tax returns, taking foreign tax credits.

🔆 Process application for refunds of income tax
🔆 One man / Single Owner / Sole proprietor
🔆 Single Member Company SMC
🔆 Firm Partnership
🔆 Private limited company
🔆 Public Limited Company
🔆 Foreign Company / branch liaison office
🔆 Complete Import/Export Business Registration
🔆 General Sales Tax Registration (GST/STRN)
🔆 Chamber of Commerce (ICCI) Membership
🔆 PEC Construction Builders License
🔆 WEBOC ID Registration (Import/Export License)
🔆 Travels and Tours license
🔆 Call Center Registration
🔆 Software House Registration
🔆 NGO / NPO Welfare Society
🔆 NBFC Registration
🔆 Trademark/Logo Registration
🔆 Patent Copyright Registration
🔆 ISO Certification
🔆 Federal Excise FED and SECP returns

Kamal Ali (Director) 0345 8542665
Fintellect Consultants
Auditors, Accountants
Business & Tax Consultants
Office No 112, Mezzanine Floor, Empress view Plaza, Opposite Empress Market, Saddar Karachi.

How Can i Register my washing product company trademark

FBR ALERT
GET YOUR RECORD UPDATED FOR RS. 2500/-
WITHIN 2 DAYS.

The FBR has recently issued instruction for updating the profile of all the taxpayers before March 31, 2021 under section 114A of the Income Tax Ordinance, 2001.

In view of the above please fill-up the following form for updating the information and send to us to enable us to update your portfolio before March 25, 2021.
Please note that failure to update the said portfolio entails a penalty of Rs.2500 per day, subject to a minimum penalty of Rs. 10,000/- and that the said taxpayer shall be considered to be a non-filer.

✅ Complete Name -Complete Home Address
✅ Cell Number -E-mail Address
✅ Bank Name (Any One)
✅ Bank Branch
✅ Complete Bank Branch Address
✅ Complete Bank A/C Number
✅ IBAN
✅ Account Opening Date

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Blessed Shab-e-Meraj to the Muslim community across the World.

PAKISTAN DAY SELL IS HERE

⏩ 23% Discount on all services

✅ Company Registration SECP
✅ Private Limited Company registration
✅ Public limited company registration
✅ Foreign company registration

✅ Single Member Company / Sole Proprietorship/ AOP
✅ Firm Registration
✅ Import Export License registration
✅ Chamber of commerce registration

✅ Logo and trademark registration
✅ ST Registration
✅ NTN Registration
✅ Become a filer

✅ PEC Registration & Renewals
✅ NGO Registration
✅ IT Company Registration
✅ Tour & Travels Company Registration
✅ Trust Registration and more

💥 Call/Whatsapp: +92 345 8542665

Register Your Company in ✨2 Days✨

FAST TRACK BUSINESS REGISTRATION.

We Fintellect Consulting are SECP and FBR registered Business Development Company providing Company Registration, Tax Returns, and Trade Licencing Services.

👉 Company Registration SECP
👉 Private Limited Company registration
👉 Public limited company registration
👉 Foreign company registration
👉 Single Member Company / Sole Proprietorship/ AOP
👉 Firm Registration

👉 Import Export License registration
👉 Chamber of commerce registration
👉 Logo and trademark registration

👉 ST Registration
👉 NTN Registration
👉 Become a filer

👉 PEC Registration & Renewals
👉 NGO Registration
👉 IT Company Registration
👉 Tour & Travels Company Registration
👉 Trust Registration and more

Appeals, exemptions, and all other corporate matters.

💥 Call/Whatsapp: +92 345 8542665

&Travel

We are SECP and FBR registered Business providing Company Registration, Tax Returns, and Trade Licencing Services.

💥 Appeals, exemptions, and all other corporate matters. Call/Whatsapp: +92 345 8542665

Register Your Company in ✨2 Days✨

FAST TRACK BUSINESS REGISTRATION.

We Fintellect Consulting are SECP and FBR registered Business Development Company providing Company Registration, Tax Returns, and Trade Licencing Services.

👉 Company Registration SECP
👉 Private Limited Company registration
👉 Public limited company registration
👉 Foreign company registration
👉 Single Member Company / Sole Proprietorship/ AOP
👉 Firm Registration

👉 Import Export License registration
👉 Chamber of commerce registration
👉 Logo and trademark registration

👉 ST Registration
👉 NTN Registration
👉 Become a filer

👉 PEC Registration & Renewals
👉 NGO Registration
👉 IT Company Registration
👉 Tour & Travels Company Registration
👉 Trust Registration and more

💥 Appeals, exemptions, and all other corporate matters.

Call/Whatsapp: +92 345 8542665

Fintellect Consulting

💥 Call/Whatsapp: +92 345 8542665

اپنی کمپنی S.E.C.P اور F.B.R سے رجسٹرڈ کرائیں اور اپنے کاروبار کو قانونی تحفظ دیں اس کے علاوہ انکم ٹیکس ریٹرن،سیلزٹیکس ریٹرن ، لوگو اینڈ برانڈ رجسٹریشن کی رہنمائی انتہائی مناسب فیس کے ساتھ
Register Your Company Or Business in 4 Working Days

Company Registration SECP
Private Limited Company registration
Public limited company registration
Foreign company registration
Single Member Company / Sole Proprietorship/ AOP
Firm Registration

Import Export License registration
Chamber of commerce registration
Logo and trademark registration

ST Registration
NTN Registration
Become a filer

PEC Registration & Renewals
NGO Registration
IT Company Registration
Tour & Travels Company Registration
Trust Registration and more

Appeals , exemptions and All other corporate matters

Call/WhatsApp for free consultation
0345 8542665

Fintellect Consulting

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Register Your Company in 4 Working Days

Company Registration SECP
Private Limited Company registration
Public limited company registration
Foreign company registration
Single Member Company / Sole Proprietorship/ AOP
Firm Registration

Import Export License registration
Chamber of commerce registration
Logo and trademark registration

ST Registration
NTN Registration
Become a filer

PEC Registration & Renewals
NGO Registration
IT Company Registration
Tour & Travels Company Registration
Trust Registration and more

Appeals, exemptions, and All other corporate matters

Call/WhatsApp for a free consultation
0345 8542665

اپنی کمپنی S.E.C.P اور F.B.R سے رجسٹرڈ کرائیں اور اپنے کاروبار کو قانونی تحفظ دیں اس کے علاوہ انکم ٹیکس ریٹرن،سیلزٹیکس ریٹرن ، لوگو اینڈ برانڈ رجسٹریشن کی رہنمائی انتہائی مناسب فیس کے ساتھ

Fintellect Consulting