Table of contents

  1. Welcome to ZIBSCO: Elevating Your Tax Strategy Experience
  2. Empower your financial strategy with ZIBSCO.
    1. a. Income and Sales Tax advisory and tax Planning
    2. b. National Tax Number (NTN) /General Sales Tax (GST)/ Provincial Sales tax (PST) Registration
    3. c. Filing of Income and Sales and Sales Tax returns
    4. 1. Income Tax Return Filing
      1. A. Salaried Class - Individual
      2. B. Non Salaried Class – Individual/ AOP/ Companies
    6. 2. Sales tax return Filing
    7. d. Tax Notices and Appeals
    8. e. Tax exemptions
    9. f. Withholding Taxes
    10. g. International Taxation services

Welcome to ZIBSCO: Elevating Your Tax Strategy Experience

Crafting Tailored Tax Solutions for Enterprises and Individuals

At ZIBSCO, we're not just tax experts; we're strategic partners dedicated to helping you optimize your financial landscape. Our services encompass a comprehensive array of offerings aimed at delivering effective tax strategies, innovative planning, and meticulous compliance management.

Our Commitment to Excellence

At the heart of our operations lies an unwavering commitment to excellence. We ensure that every service we provide meets the highest industry standards, adhering rigorously to the professional codes of conduct, ethics, and strict risk policies set forth by ZIBSCO.

Experts with a Personal Touch

Our professionals aren't just well-versed in tax laws; they're intimately familiar with the challenges faced by businesses and individuals alike. This depth of domain knowledge is further bolstered by technical proficiency and a steadfast dedication to building lasting client relationships. It's this unique blend that empowers us to offer innovative solutions, improving efficiencies, and delivering superior services.

Customized Solutions for Your Unique Needs

Understanding the intricacies of your industry and business is paramount to delivering tailored solutions. Our professionals take the time to delve into the underlying issues faced by our clients, allowing us to craft strategies that align precisely with your specific needs.

Navigating the Global Tax Landscape

In today's interconnected world, businesses engage in multinational transactions and operations, introducing a dynamic challenge - managing the impact of ever-evolving tax jurisdictions. At ZIBSCO, we specialize in providing sophisticated tax assistance, offering comprehensive guidance on structuring the impact of global taxation.

Relevant Tax Laws: ITO, 2001, Sales Tax Act, 1990, Provincial Services Sales Acts

Our expertise is anchored in a thorough understanding of the tax laws governing Pakistan, including the Income Tax Ordinance (ITO), 2001, the Sales Tax Act, 1990, as well as Provincial Services Sales Tax Acts, along with their associated rules and regulations.

Empower your financial strategy with ZIBSCO.

Reach out to us today and let's embark on a journey towards optimized tax efficiency and compliance.

a. Income and Sales Tax advisory and tax Planning

  1. Analyzing the tax impact of transactions holistically having regard to direct tax, indirect tax, regulatory and transfer pricing implications, This involves conducting a comprehensive assessment of the tax implications of a transaction, taking into consideration various aspects such as direct taxes (e.g., income tax, capital gains tax), indirect taxes (e.g., GST/VAT), regulatory compliance, and transfer pricing.
  2. Providing opinions on transactions from a domestic law and tax treaty viewpoint, This involves offering expert opinions on the tax implications of specific transactions based on both domestic tax laws and any relevant tax treaties. It includes assessing how the transaction aligns with local tax regulations and whether there are any benefits or provisions under tax treaties that may apply.
  3. Identifying tax planning opportunities and addressing potential problem areas in the course of undertaking day to day business activities, this involves actively seeking out opportunities to minimize tax liabilities while conducting regular business operations. It also involves identifying potential areas where tax compliance or regulatory issues may arise and implementing strategies to mitigate those risks.
  4. Capitalizing on planning opportunities presented by local tax law as well as treaty network, this entails leveraging the provisions within local tax laws and any applicable tax treaties to optimize a company's tax position. It involves strategically structuring transactions or operations to take advantage of available tax incentives, exemptions, and credits.
  5. Formulating effective and tax-efficient cross-border strategies for both inbound and overseas investments, this involves devising strategies for companies engaging in international transactions or investments. It encompasses considering the tax implications of both inbound investments (foreign entities investing in the local jurisdiction) and outbound investments (local entities investing abroad).

ZIBSCO

strategy
ZIBSCO apply holistic approach to tax planning and compliance, aiming to optimize a company's tax position while ensuring adherence to local laws and treaties. This involves a deep understanding of tax laws, regulations, and international agreements, and requires expertise in both domestic and international taxation.

b. National Tax Number (NTN) /General Sales Tax (GST)/ Provincial Sales tax (PST) Registration

Discover expertise with ZIBSCO's Expert Tax Lawyers and Accountants. We specialize in seamless NTN, GST, and PST registrations, coupled with meticulous income tax return filing services. Our commitment is to make every client a Tax Filer, offering maximum legal protection and peace of mind.

Your Gateway to Effortless Tax Compliance

 Join the ranks of Tax Filers effortlessly. With ZIBSCO, registering your NTN/GST/PST and filing income tax returns and Sales tax return have never been more convenient. From the comfort of your home, a simple phone call is all it takes to kickstart your journey towards financial empowerment.

 NTN/GST/PST Registration: Our seasoned experts guide you through the registration process, making it swift and seamless.

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c. Filing of Income and Sales and Sales Tax returns

1. Income Tax Return Filing

A. Salaried Class - Individual
  • Tax Deduction Certificate from Companies / banks / third parties, in case of tax deduction made from 01st July 202X till 30th June 202X
  • Summary of expenses in business from 01st July 202X till 30th June 202X
  • Bank Statement from 01st July 202X till 30th June 202X
  • Detail of Business Assets as of 30th June 202X
  • List of Personal Assets as of 30th June 202X
  • Utility bill under name of business or tax filer
  • Certificate of tax deduction of following from 01st July 202X till 30th June 202X
      1. Tax deduction Mobile carrier/ operator
      2. Tax deducted on profit deducted from PLS / saving account
      3. Tax on cash withdrawal from bank
      4. Tax on certain banking transactions
      5. Foreign remittance certificate
      6. Tax deducted on Educational fee
      7. Advance Tax on transfer of Registration or ownership of brand new vehicle
      8. Advance tax on registration or transfer of immovable property
      9. Advance tax on functions and gatherings
      10. Advance Tax deducted by Saving Centre
      11. Tax Deducted in Foreign transaction from Credit
      12. Tax deducted on Domestic and International Air

 

B. Non Salaried Class – Individual/ AOP/ Companies
  • Tax Deduction Certificate from Companies / banks / third parties, in case of tax deduction made from 01st July 202X till 30th June 202X
  • Financial statement/ Accounts statements/ Financial report
  • Monthly sales tax returns or summary of sales tax returns (if Business is registered with sales tax returns.
  • Monthly sales tax returns or summary of sales tax returns (if Business is registered with sales tax returns.
  • Summary of net sales invoices from 01st July 202X till 30th June 202X
  • Summary of purchase/ Vendor Invoices from 01st July 202x till 30th June 202X
  • Summary of expenses in business from 01st July 202X till 30th June 202X
  • Bank Statement from 01st July 2022 till 30th June 202X
  • Detail of Business Assets as of 30th June 202X
  • List of Personal Assets as of 30th June 202X
  • Utility bill under name of business or tax filer
  • Further schedules for accounting and tax reconciliation
  • Certificate of tax deduction of following from 01st July 202X till 30th June 202X
      1. Tax deduction Mobile carrier/ operator
      2. Tax deducted on profit deducted from PLS / saving account
      3. Tax on cash withdrawal from bank
      4. Tax on certain banking transactions
      5. Foreign remittance certificate
      6. Tax deducted on Educational fee
      7. Advance Tax on transfer of Registration or ownership of brand new vehicle
      8. Advance tax on registration or transfer of immovable property
      9. Advance tax on functions and gatherings
      10. Advance Tax deducted by Saving Centre
      11. Tax Deducted in Foreign transaction from Credit
      12. Tax deducted on Domestic and International Air

 

2. Sales tax return Filing

Seamlessly Meet Your Tax Obligations

Staying compliant with the latest FBR/ SRB/ PRA/ BRA/ KPRA sales tax laws and regulations is crucial. Every registered individual is required to file a sales tax return by the 15th of each month, based on the previous month's sales.

 

E-File with Ease

Registered individuals with Federal Board of Revenue/Provincial Sales Tax authorities must electronically submit their sales tax returns directly to the Government of Pakistan. Payments can be made by the 15th of each month, and returns can be submitted by the 18th through FBR/ SRB/ PRA/ KPRA/ BRA's user-friendly e-portal.

 

ZIBSCO

Hassle-Free Preparation: Leave the complexities of sales tax returns to us. We'll ensure your returns are prepared accurately and submitted on time.
Expert Guidance: We provide comprehensive guidance and support throughout the process, ensuring you navigate the filing requirements effortlessly.
Monthly Sales Invoices: Including particulars of customers.
Monthly Purchases Invoices: Including particulars of vendors/ suppliers.
Details of Withholding Taxes: On payment of invoices to vendors.
With a wealth of experience in tax compliance, ZIBSCO is your trusted partner for all things related to sales tax returns. Our commitment to accuracy and timeliness sets us apart.

d. Tax Notices and Appeals

At ZIBSCO, we pride ourselves on our exceptional expertise in effectively managing tax notices and appeals. Our seasoned professionals possess an in-depth understanding of tax laws and a proven track record of successfully navigating the complexities of tax matters. We are dedicated to providing tailored solutions that ensure the best possible outcomes for our clients.

 We specialize in providing comprehensive responses to tax notices from esteemed authorities including:

i.                    Federal Board of Revenue (FBR)

ii.                  Sindh Revenue Board (SRB)

iii.                Punjab Revenue Authority (PRA)

iv.                 Baluchistan Revenue Authority (BRA)

v.                   KPK Revenue Authority (KPRA)

 Appeals under the Income Tax Ordinance, 2001 and the Sales Tax Act, 1990

Navigating the intricate landscape of tax laws is our forte. We are adept at handling appeals under both the Income Tax Ordinance, 2001 and the Sales Tax Act, 1990. Our experienced team ensures that your case is presented effectively to achieve the best possible outcome.

In addition to the means provided in the tax laws, we explore various avenues to safeguard your interests, such as:

vi.                 Commissioner Inland Revenue

vii.               Alternative Dispute Resolution

viii.             Federal Tax Ombudsman

ix.                 Constitution/Writ Petition before the High Court

x.                   Resolving Disagreements with Tax Authorities

 

Most appeals stem from disagreements between taxpayers and tax collectors within the Inland Revenue department. These disputes typically revolve around the quantification of taxable income, assessment of tax liability, and issues related to default surcharge, penalties, and more.

 The legal framework empowers taxpayers with the right to appeal before the Commissioner (Appeals) and, if needed, further recourse to the Appellate Tribunal and Higher Courts of the country.

  At ZIBSCO, we champion your rights in these matters, ensuring fair and just resolutions.

e. Tax exemptions

We Unlock Opportunities for Tax Relief and Find Tailored Solutions for Every Taxpayer

At ZIBSCO, we specialize in navigating the intricacies of Pakistan's tax landscape. Our expert team is dedicated to helping individuals and businesses harness the full potential of tax exemptions and refunds provided under the Income Tax Ordinance and Sales Tax Act, 1990, as well as provincial tax laws.

Our Services helps different clients in following services

1. Thorough Analysis and Eligibility Assessment

Our seasoned professionals conduct in-depth assessments to determine your eligibility for various tax exemptions and refunds.

2. Comprehensive Application Preparation

We assist in the meticulous preparation and submission of applications for tax exemptions and refunds, ensuring compliance with all legal requirements.

3. Strategic Tax Planning

Benefit from customized tax planning strategies designed to maximize your eligibility for exemptions and refunds, while minimizing tax liabilities.

4. Expert Representation

In case of disputes or challenges, we provide expert representation and negotiation with tax authorities to secure or maintain your entitlements.

5. Proactive Compliance Management

We offer ongoing support to ensure your continued eligibility for tax exemptions and refunds, including timely reporting and documentation.

Our Experts Unlock Opportunities for Tax Relief and Find Tailored Solutions as per

    • Income Tax Ordinance, 2001
    • Sales Tax Act, 1990
    • Provincial Tax Laws
Proven Track Record
Our team has a demonstrated history of successfully obtaining tax exemptions and refunds for our clients.
In-Depth Knowledge
We stay abreast of the latest updates and changes in tax laws to provide you with the most accurate and effective advice.
Customized Approach
Every client is unique, and we tailor our services to suit your specific tax situation and objectives.
Transparent Communication
We believe in open, honest communication, keeping you informed at every stage of the process.

f. Withholding Taxes

With ZIBSCO Navigate Pakistan's Tax Laws and regulations with Expertise

Navigating the intricacies of Income tax Ordinance, 2001 and Sales tax Act, 1990 and Provincial services Sales tax Acts, is paramount for businesses and individuals alike. At ZIBSCO, we specialize in providing comprehensive services aligned with Pakistan's tax laws.

 

Our Services include;

    • Thorough Assessment and Compliance: We conduct in-depth assessments to determine your withholding tax obligations, ensuring strict adherence to Tax laws.
    • Accurate Deduction and Filing: Our experts meticulously calculate and deduct the appropriate withholding tax at the source, ensuring full compliance and avoiding issues with tax authorities.

 

    • Timely Filing and Reporting: We ensure that all withholding tax returns and reports are filed accurately and submitted within the specified deadlines as per Tax laws.

 

    • Expert Dispute Resolution: In case of any disputes or discrepancies, we provide expert representation and negotiate with tax authorities to achieve fair and lawful resolutions.

g. International Taxation services

ZIBSCO provide International Tax Law Expertise for Global Enterprises, You can navigating Global Tax Landscapes with Precision

 International tax law governs activities that span multiple countries, regulated by bilateral agreements commonly known as income tax treaties, tax conventions, double taxation agreements (DTAs), or tax pacts. These agreements serve as critical frameworks for cross-border transactions, providing guidelines on jurisdictional taxation rights.

 

Our Expertise in International Taxation

 1. We have Comprehensive Understanding of Global Tax Dynamics

Our team at ZIBSCO boasts a deep comprehension of international tax law, enabling us to offer invaluable guidance to global businesses. We specialize in aligning your tax strategies with your business imperatives while ensuring compliance with the diverse tax regimes that may apply.

2. Tailored Solutions for Cross-Border Tax Challenges

As governments and tax authorities worldwide respond to the realities of globalization, economic volatility, and an increasingly interconnected economy, the regulatory landscape continues to evolve. This evolution has led to tighter trading rules and a heightened pursuit of tax revenues.

 3. Empowering Multinational Organizations

Multinational organizations often grapple with an intricate web of tax rules and obligations, particularly as individual tax authorities seek to collect levies on cross-border activities. Our dedicated team is poised to assist you in navigating this complex terrain.

 4. Unearthing Planning Opportunities for Financial Excellence

At ZIBSCO, we firmly believe that specialized international tax professionals are best suited to address these challenges. Beyond compliance, our experts uncover strategic planning opportunities that have the potential to enhance your financial performance on the global stage.

 

Services We Offer:

  • Income Tax Treaties Compliance
  • Cross-Border Transaction Taxation
  • Jurisdictional Taxation Planning
  • Double Taxation Agreement (DTA) Advisory

ZIBSCO

With a solid track record of excellence, ZIBSCO is your go-to partner for all your tax-related needs. Our dedication to accuracy, efficiency, and legal compliance sets us apart.

Requirement list

1NTN Registration
A. Salaried Class
• Color copy of CNIC
• Latest paid electricity bill
• Phone Number
• Email address

B. Non Salaried Class/ Business owners
• Color copy of CNIC
• Rent agreement/ownership docs of Office premises
• Letterhead
• Latest paid electricity bill
• Phone Number
• Email address

C. Partnership/ AOP
• Partnership Deed
• Partnership registration certificate
• Authorization of principal Officer
• Color copy of CNIC's of Partners
• Rent agreement/ownership docs of Office premises
• Letterhead
• Latest paid electricity bill
• Phone Number
• Email address Email address

D. Company
• Incorporation Certificate
• Memorandum & Articles of Association
• Partnership registration certificate
• Authorization of principal Officer
• Color copy of CNIC's of Partners
• Rent agreement/ownership docs of Office premises
• Letterhead
• Latest paid electricity bill
• Phone Number
• Email address

E. NPO
• NTN of all members
• Registration Certificate
• Constitution of NPO
• Authorization of principal Officer
• Color copy of CNIC's of Partners
• Rent agreement/ownership docs of Office premises
• Letterhead
• Latest paid electricity bill
• Phone Number
• Email address
• Any other document as required by the concerned authority
2General Sales Tax Registration (GST) Requirement List
• Bank Account Certificate
• Acquisition Date, Capacity and Business Activity
• Particulars of all branches (if any)
• Authorization of principal Officer
• GPS-tagged photographs of the business premises
• Consumer number with the gas and electricity supplier along with pictures of utilities meter
• GPS-tagged photographs of machinery and industrial electricity or gas meter installed (Manufacturer only)
• Color copy of CNIC's of Partners
• Rent agreement/ownership docs of Office premises
• Latest paid electricity bill
• Biometric Verification
• Post Verification
3Provincial Services Sales Tax Registration (PST) Requirement List
A. Individual Business
• Color copy of CNIC
• Rent agreement/ownership docs of Office premises
• Letterhead
• Latest paid electricity bill
• Phone Number
• Email address
• Bank Account Certificate
• Acquisition Date, Capacity and Business Activity
• Particulars of all branches (if any)
• Authorization of principal Officer
• Signed Application Form

B. Company
• Incorporation Certificate
• Memorandum of Association
• Articles of Association
• Incorporation Form/ Form A & 29
• Color copy of CNIC
• Rent agreement/ownership docs of Office premises
• Letterhead
• Latest paid electricity bill
• Phone Number
• Email address
• Bank Account Certificate
• Acquisition Date, Capacity and Business Activity
• Particulars of all branches (if any)
• Authorization of principal Officer
• Signed Application Form

C. AOP/ Partnership
• Partnership Certificate
• Partnership deed
• Color copy of CNIC
• Rent agreement/ownership docs of Office premises
• Letterhead
• Latest paid electricity bill
• Phone Number
• Email address
• Bank Account Certificate
• Acquisition Date, Capacity and Business Activity
• Particulars of all branches (if any)
• Authorization of principal Officer
• Signed Application Form