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#realestate #propertydealer #commissionwork #propertymarketing #realestatemarket #7E #formA #formAregistration #fbr
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FBR Sets Deadline for Income Return Filing for Tax Year 2023
The income tax return filing process commenced on July 1, 2023, and will continue until the specified deadline of September 30, 2023. The FBR has adhered to the statutory requirements by providing taxpayers with a three-month window to fulfill their national duty of filing returns. This obligation extends to various categories of taxpayers, including salaried individuals, business owners, Associations of Persons (AOPs), and companies with special fiscal years.
The filing of income tax returns is a critical phase for taxpayers in meeting their legal responsibilities and contributing to the country’s revenue generation. It plays an essential role in maintaining a transparent and accountable taxation system in Pakistan.
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FBR Increases Rate of Further Tax on Supplies Made to Unregistered Persons
The Federal Board of Revenue (FBR) has increased the rate of “Further Tax” from 3 to 4 percent on supplies made to unregistered persons.
According to a sales tax circular issued by the FBR, Further Tax is charged on supplies of taxable goods made by a registered person to a person who has not obtained a sales tax registration number or has obtained a registration number but is not an active taxpayer. The said rate of sales tax under sub-section (1A) of section 3 of the Sales Tax Act was previously 3 percent which has now been enhanced to 4 percent through Finance Act, 2023.
#incometax #salestax #returnfiling #fbr #fbrpakistan #tax #taxationcommunity #federalboardofrevenue #fbrpakistan #incometax #howtofileincometaxreturn #digitaltax #incometaxreturn #taxreturnfbrpakistan
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**A Step-By-Step Guide: AML CFT and DNFBP and their supervisory regime compliance**
Anti-money laundering (AML) and counter-terrorism financing (CFT) are important regulations designed to prevent criminals from using financial institutions to launder money or finance terrorism. Designated non-financial businesses and professions (DNFBPs) are businesses and professions that are not financial institutions but that are nevertheless required to comply with AML/CFT regulations.
This guide provides a step-by-step overview of AML/CFT compliance for DNFBPs. It covers the following topics:
* What is AML/CFT?
* Why is AML/CFT important?
* Who is a DNFBP?
* What are the AML/CFT obligations of DNFBPs?
* How to comply with AML/CFT regulations
This guide is designed to help DNFBPs understand their AML/CFT obligations and to implement effective compliance measures.
**Here are some additional details about AML CFT and DNFBP:**
* AML/CFT regulations are designed to prevent criminals from using financial institutions to launder money or finance terrorism.
* DNFBPs are businesses and professions that are not financial institutions but that are nevertheless required to comply with AML/CFT regulations.
* The AML/CFT obligations of DNFBPs include customer due diligence, recordkeeping, and reporting suspicious activity.
* DNFBPs can comply with AML/CFT regulations by implementing a risk-based approach that includes the following measures:
* Identifying and assessing their AML/CFT risks
* Implementing customer due diligence procedures
* Keeping accurate records
* Reporting suspicious activity
**If you are a DNFBP, it is important to understand your AML/CFT obligations and to implement effective compliance measures. Failure to comply with AML/CFT regulations can result in significant penalties, including fines and imprisonment.**
#aml #cft #dnfbp
#taxrefund #fbr #federalboardofrevenue #incometaxreturn #salestaxreturn #fbrpakistan #refund #compensation #compensationondelayedtaxrefund
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#NGO #benefits #NPO #nongovernmentorganization #nonprofitorganization
#taxrefund #fbr #federalboardofrevenue #incometaxreturn #salestaxreturn #fbrpakistan #refund #compensation #compensationondelayedtaxrefund
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#taxrefund #fbr #federalboardofrevenue #incometaxreturn #salestaxreturn #fbrpakistan #refund #compensation #compensationondelayedtaxrefund watch video on watch page
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Welcome to your digital tax partner Scounts, your premier destination for expert tax solutions, business services, and regulatory guidance. We specialize in providing comprehensive tax knowledge and professional assistance to individuals and businesses.
Explore our YouTube channel for invaluable insights on sales tax, income tax, and the latest FBR (Federal Board of Revenue) rules. Our experienced team is here to simplify complex tax matters and guide you in making informed decisions.
We offer a range of services tailored to your needs, including tax return filing for freelancers and self-employed individuals. Additionally, we provide expert assistance in company registration and compliance matters under SECP.
Trust us with your accounting needs, and our skilled team will ensure accurate analysis, giving you insights into your business.
Contact us today for personalized solutions and let us help you navigate the world of taxes and ensure your financial success.
14 December 2022