Program overview
INTRODUCTION
Tax is not a cost or burden to a business, good command over it saves an Entity / Individual from unnecessary coat and various complexities those arise once a transaction is concluded. Now a days Government is making lot of efforts to increase tax base and have very clear differentiation between tax compliant vs non-compliant Entities/Individuals with the use of word Filer vs non-Filer. Knowledge of Taxation is not only necessary for those who are in particular dealing with tax matters but also reasonable level of knowledge is a prerequisite for ever one whether doing business or in employment. A new concept is coming up
“Facilities will be for those who are regulation compliant”
OBJECTIVES
- Introduce basic knowledge of Income Tax and Sales Tax laws.
- Develop awareness how to differentiate Income according to its source; Salary/Rent/ Dividend/ Business etc.
- Highlight importance & benefits of Filing Return of Income.
- Removal of misconception of becoming Tax filer.
- Introduce Tax planning and reduction of Tax within legal framework.
- Avoid penalties.
- Develop awareness of adjustment of Tax deducted / withheld in various transactions; Cell phone, Property Transfer, Electric bills etc.
- Introduce basic knowledge of Sales Tax on Goods & Services and develop concept.
- Develop awareness how to Charge Sales Tax and adjust Sales Tax paid by the business.
- Discuss how deal with Input & Output adjustments.
- Discuss concept of Zero-rated & Exempt Supplies.
- Highlight importance & benefits of Preparing & Filing Sales Tax return on time.
- Removal of misconception about claims / adjustments.
- Develop awareness of adjustment of Sales Tax deducted / withheld.
PROGRAM CONTENTS
Module-1: INCOME TAX:
- Overview of FBR Portal
- Registration of entities / Individuals as new tax payer.
- Discussion of basic concepts and definitions.
- Tax Rates & Rebates, Tax Credits.
- Computation of Taxable Income under various heads.
- Tax Return – Who will file return, Date of Filing Return & Extension.
- Preparing Tax Return on FBR Software.
- Tax payments, Withholding Tax & Advance Tax
- Preparing Withholding Tax Return on FBR Software.
- Tax Refunds
- Assessments
Module-2: SALES TAX:
- Overview of FBR Sales & SRB Tax Portal
- Registration of businesses as new tax payer.
- Discussion of basic concepts and definitions.
- Tax Rates and Tax Credits.
- Tax Return – Date of Filing Return & Sales Tax Payment.
- Preparing Sales Tax Return on FBR Software.
- Sales Tax Refund
- Assessments
METHODOLOGY
Lectures, practical, exercises assignments & tests.
PROGRAM DURATION/DAYS
This Program is of 4-month duration. Classes will be held on Sundays 3:00 pm to 8:00 pm.
PARTICIPANT PROFILE
- Tax Managers
- Accounting & Finance managers
- Persons dealing with tax matters in functions other than Accounting & Finance.
- R. Managers
- All those who work on taxation in both private and public sector organizations
LEARNING INVESTMENT
The fee for the entire program is Rs. 70,000/- (SST will be applicable on all training programs held in Sindh).
FOR DETAILS & REGISTRATION
Diploma Office, Management House, Shahrah Iran, Clifton, Karachi
Voice Dir: (+9221) 99251 669 EPABX: (+9221) 9925 1711-14 Fax: (+9221) 9925 1715-16
Cell: 03432499855, 03337326730, 03122464635, 03333028660, E-mail: diplomakhi@pim.com.pk