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FBR Assets Declaration Scheme information & Online registration

FBR Assets Declaration Scheme 2020

Any person can avail the scheme and make a declaration, except the following:
(a) A person who is or has been the holder of public office, their spouses and
dependents; his or her benamidar;
(b) A public company as provided in Income Tax Ordinance, 2001.

A holder of a public office is a person who is or has been, during the preceding ten years commencing from the 22nd May 2018

(i) the President of the Islamic Republic of Pakistan or the Governor of a
Province;
(ii) the Prime Minister, Chairman Senate, Speaker of the National Assembly, Deputy Chairman Senate, Deputy Speaker National Assembly, Federal Minister, Minister of State, Attorney-General for Pakistan, and other Law Officers appointed under the Central Law Officers Ordinance, 1970 (VII of
1970), Adviser or Consultant or Special Assistant to the Prime Minister and holds or has held a post or office with the rank or status of a Federal Minister or Minister of State, Federal Parliamentary Secretary, Member of Parliament, Auditor-General of Pakistan, Political Secretary;
(iii) the Chief Minister, Speaker Provincial Assembly, Deputy Speaker Provincial Assembly, Provincial Minister, Adviser or Consultant or Special Assistant to the Chief Minister and who holds or has held a post or office with the rank or status of a Provincial Minister, Provincial Parliamentary Secretary, Member of the Provincial Assembly, Advocate-General for a Province including Additional Advocate-General and Assistant Advocate-General, Political Secretary;
(iv) the Chief Justice or, as the case may be, a Judge of the Supreme Court, Federal Shariat Court, a High Court or a Judicial Officer whether exercising judicial or other functions or Chairman or member of a Law Commission, Chairman or Member of the Council of Islamic Ideology;
(v) holding an office or post, in the service of Pakistan or any service in connection with the affairs of the Federation or of a Province or of a local
council constituted under any Federal or Provincial law relating to the constitution of local councils, co-operative societies or in the management of corporations, banks, financial institutions, firms, concerns, undertakings, or any other institution or organization established, controlled or administered by or under the Federal Government or a Provincial Government or a civilian employee of the Armed Forces of Pakistan: Provided that a member of the  Board, not actively engaged in the business and day-to-day affairs of the said corporations, banks, financial institutions, firms, concerns, undertakings or any other institution or organization shall not be treated as the holder of public
office under this sub-clause;
(vi) the Chairman or Mayor or Vice-Chairman or Deputy Mayor of a Zila council, a municipal committee, a municipal corporation, or a metropolitan corporation constituted under any Federal or Provincial law relating to local councils; Explanation.– For the purpose of this sub-clause the expressions “Chairman” and “Vice-Chairman” shall include “Mayor” and “Deputy Mayor” as the case may be, and the respective councilors therein; and
(vii) a District Nazim or District NaibNazim, Tehsil Nazim, or Tehsil NaibNazim or UnionNazim or Union NaibNazim.

Registration of Individual on Iris
An online registration facility is available for unregistered taxpayers through Iris. Only taxpayers with registered accounts on Iris can file their annual return through the Iris portal. Taxpayers who already have NTN issued to them by FBR can also apply for an online account of Iris through the E-Enrollment option available on Iris’s main login screen.
Registration for Unregistered Person
1 – Access Iris through the URL https://iris.fbr.gov.pk/public/txplogin.xhtml.
2 – Click on the link given as “Registration for Unregistered Person” as shown below:

3 – Iris will load the registration form for the unregistered person. Enter Information in provided fields as shown in the below screen with the correct format.

FBR Information

2 EASY STEPS

Step 01:

Get Password / Login

Step 02:

View Assets

اگر آپ جاننا چاہتے ہیں کہ FBR کے پا س آپکےمتعلقہ اب تک کونسی معلومات جمع ہیں تو آپ اس Page پرLogin کریں. Login کرنے کیلیٔے اپنا قومی شناختی کارڈ نمبر اور کوڈ Codeاستعمال کریں کوڈ حا صل کرنے کیلیٔے اپنے نام رجسٹرڈ موبائل نمبر سے 9966 پر اپنا قومی شناختی کارڈ نمبرمیسج کریں۔
مختلف ذرائع سےاب تک کی حا صل کردہ اثاثٰہ جات اورسرگرمیوں کی معلومات آپکےاستفادہ کیلیٔےاس Page پرموجود ہیں
ملکی قوانین کا احترام کرنا اورپاس رکھنا ہرشہری کا قومی فریضہ ہے

Assets Declaration Ordinance, 2019 is primarily for the purpose of the declaration of undisclosed assets as reflected in the tax year 2018. Income up to the tax year 2018 will be reflected either as an undisclosed asset or undisclosed expenditure. Any income subsequent to tax the year 2018 is not covered under the scheme.

Any undisclosed assets can be declared except the following:
(a) Any proceeds or assets that are involved in or derived from the commission of a criminal offense;
(b) Gold and precious stones;
(c) Bearer prize bonds;
(d) Bearer securities, shares, certificates, bonds, or any other bearer assets.
(e) Any undisclosed assets / undisclosed expenditures on which proceedings are
pending in the High Court or Supreme Court;
(f) Cash in hand (local or foreign) except that which is deposited in the bank the account in the manner laid down in the scheme.

No. Jewelry made up of gold, precious stones, and metals in any shape cannot be declared. The scheme envisages benefit for the undisclosed assets or undisclosed expenditures and tax at the rates prescribed under the Ordinance has to be paid on such assets or expenditures. There is an additional benefit that undisclosed sales which are liable to standard tax rate under the Sales Tax Act, 1990 or the Federal Excise Act, 2005, can be declared at the reduced rate of 2% under the scheme. The undisclosed assets or undisclosed expenditures created out of such sales are required to be declared as referred above.

Illustration
(1) Undisclosed Sales = Rs. 1,000
Tax @ 2% = Rs. 20
(2) Undisclosed Assets/expenditures
out of the undisclosed sales as referred above
Undisclosed assets = Rs. 500
Undisclosed expenditure = Rs. 100
= Rs. 600
Tax @ 4% on Rs. 600 = Rs. 24
Total Tax under the scheme = Rs. 44

File your Declarations

Payment of Taxes

Tax on Foreign Assets (USD or AED)

Tax may be paid either in USD or AED and PSID will specify the liability in desired currency

1. Complete the Asset declaration and create PSID from the FBR portal

2. Request your banker to remit the funds to either NBP New York ( for US$ payment) or UBL Dubai (for AED payment) depending upon the currency of remittance opted by you.

3. Request your banker to include the following information as a part of the message in the relevant fields:

a. PSID#

b. CNIC

c. Date of birth

d. Place of birth

4. NBP-Karachi will issue eCPR for payment.

For details please refer to SBP Notification

For help please contact SBP helpline

Tax on Domestic Foreign Currency Account (USD)
Tax on Domestic Assets/ Sales/Expenditures/Tax Demanded (PKR)