Accountancy Forum

Hello all,

I work in a Private company and I am not registered with FBR. What will be the benefits if I get registered with FBR? I am already a taxpayer as the tax is deducted from my salary on monthly basis. Will I have to pay extra tax if I get registered and become a filer? I am new to tax laws, therefore basic explanations will be appreciated.

Regards,

Hello Dear,
You must get registered with FBR as you are already paying taxes from your income. However you won’t have to pay further taxes if your tax is being deducted and paid from salary.
Furthermore you will get below benefits as filer.
1. You tax rate will be low than other non-filler
2. You will get benefits in future you will start any business.
3. Any bonds, stock trade or any other transaction e.g. property sale and purchase you will get huge benefits, or sold of car if in gain you sell out.
4. If you apply in any foreign country. It is easy to get visa as you are showing a responsible citizen by showing your tax return file.

And there are so many more benefits but as you know that in Pakistan to be a taxpayer means to be in the hell, because you get so many notices from the FBR, in this case, you have to pay bribe for that