Accounting and Tax Services
First, let’s get it straight and out of the way. Indus BPO is on your side and not that of the FBR. We represent you, not the FBR.
Individual Tax Returns are filed along with a balanced Wealth Statement with the FBR in Pakistan.
Individuals not taxed as a business include the following:
- With assets
- Without assets
- With no income
- Salaried Employees
Individuals taxed as a business include but are not limited to the following:
- Freelancers
- Self Employed
- Insurance Agents
- Commission Agents
- Solo Practitioners
- Sole Proprietors
- Partners
- Non-Registered Businesses
Yes, individuals who are on Fiverr and Upwork are also considered to be in business and are taxed as a business.
FBR maintains a list of all citizens that are current and up to date with filing their income tax returns. This list is known as ATL (Active Taxpayer List).
Those not on the ATL are taxed heavily. Citizens with no income file a tax return just to be on the list, to avoid extra taxation.
We recommend that everyone should file. It will benefit you.
Many individuals are making their own money. They are tutors, domestic workers, people working from home, and some are even operating as a business. They have offices, employees, and even give their business an unregistered name. Some are earning from foreign sources & keeping their funds abroad.
They are hardworking & don’t even know that they are breaking laws which is a crime.
They look at the money they earn as "pocket money", and it’s nobody’s business what they do with it. Yes, they may not have to tell their parents, family, or friends but the government wants to know everything.
This is done through filing an income tax return along with a wealth statement. If not reported, this "pocket money" can very well be looked at as "black money".
Putting this money back into the economy can be called “money laundering” and not reporting their income to the government is known as “tax evasion”.
Some of these individuals are in the following industries:
- Call Centers
- Consultants
- Service Providers
- Contractors
- Freelancers on platforms like Fiverr & Upwork
- Software Houses
- IT related services
- Digital Marketing
- & so on.
You get the idea.
At Indus BPO we assist to get a legal business structure formed and be legit!
What is a company in Pakistan? Any business that is registered with the Securities and Exchange Commission of Pakistan (SECP), registered with the FBR with its own NTN Number and has its own separate business account is called a company. A company enjoys several benefits: it is a separate entity from the individual owner(s), offering them legal protection.
Companies have their own set of rules to follow — income tax being one of them. Preparing and filing a company income tax return is different from filing an individual one.
Indus BPO offers company income tax preparation and filing services. Different industries are taxed differently, and your business structure also affects taxation. Not only do we handle your taxes, but we also help restructure your setup if necessary.
At Indus BPO, we help you form a legal business structure and operate legitimately!
Accounting is the language of business. It tells a story in numbers. Skilled people in business are familiar with Accounting and it’s importance. And understand it’s value for many purposes.
Every incoming or outgoing transaction is recorded. Periodic Financial Reports are prepared. They are like snap shots of the business. Owners and management can evaluate and make informed business decisions.
This is not a choice or an option for any BUSINESS.
A vast majority of companies and individuals are required to file Sales Tax Returns in Pakistan.
Some are required to file a federal sales tax return and some are required to file a provincial sales tax return.
There are others who may be required to file both.
Indus BPO offers Federal & Provincial Sales Tax Preparing & filing services in Pakistan.
Employees are an important part of business. Indus BPO offers Employee Benefits & Salary Withholding Services in Pakistan.
From time sheet to pay slip and filing withheld taxes with the FBR we got you covered. In addition to payroll management we offer additional services.