Pakistan Taxation Complete Course

About Course

The Institute of Corporate Training (ICT), recognized by the Federal Board of Revenue, Securities and Exchange Commission of Pakistan, the Chamber of Commerce, and the Intellectual Property Organization, is dedicated to providing specialized training in tax, corporate laws, stock markets, and accounting. Our mission is to equip students, professionals, and business owners with the essential skills and knowledge needed to confidently manage their tax and corporate matters in a professional manner.

In response to the growing needs of the business community, corporate employees, lawyers, tax consultants, and others involved in taxation, ICT has launched a 16-week course, the Certified Tax Advisor (CTA)program. This course covers key areas such as understanding tax laws, electronic preparation and submission of returns, e-filing procedures, record maintenance, and handling practical issues in Income Tax, Federal & Provincial Sales Tax Laws, along with corporate law, including various types of business registrations.

Introduction to IRIS: Overview of the FBR’s online system for tax filings.
IRIS Account Setup: How to create and manage an IRIS account for tax-related activities.
E-Filing of Tax Returns: Submitting income tax, sales tax, and corporate tax returns online via IRIS.
Managing Tax Payments: Viewing and making payments for tax liabilities through IRIS.
Handling Tax Notices: Responding to notices and managing FBR communications via IRIS.
Tax Record Maintenance: Storing and managing tax documents in the IRIS system.
Basic Accounting Principles: Understanding accounting fundamentals such as assets, liabilities, and equity.
Double-Entry Bookkeeping: Learning the double-entry system for accurate financial records.
Financial Statements: Preparing key financial statements such as balance sheets, income statements, and cash flow statements.
Trial Balance Preparation: Creating a trial balance and reconciling accounts.
Tax Impact of Accounting: Understanding the relationship between accounting and tax compliance.
Income Tax Basics: Overview of income tax laws in Pakistan, including rates and exemptions.
Types of Taxable Income: Understanding various income sources such as salary, business income, and capital gains.
Filing Income Tax Returns: How to file income tax returns for individuals and businesses.
Income Tax Deductions: Identifying allowable deductions and credits to minimize tax liability.
Sales Tax Registration: Steps for registering for Sales Tax (GST) with FBR.
Sales Tax Filing: Filing monthly, quarterly, and annual sales tax returns.
Input & Output Tax: Understanding input and output tax calculations for businesses.
Corporate Taxation: Overview of corporate tax registration, returns, and compliance.
IPO Process: Understanding the process of launching an Initial Public Offering (IPO) in Pakistan, including regulatory filings.
Company formation: SMC, Private, LLC, Public Limited

Course Content

Module 1: IRIS

Introduction to the FBR’s IRIS system for online tax filing and returns submission
How to create and manage your IRIS account
Navigating the IRIS portal: e-filing of tax returns, statements, and forms
Viewing and managing tax payments, refunds, and notices
Understanding the IRIS dashboard and tax records management
Using IRIS for tax audits, assessments, and communications with FBR

Module 2: Basic Accounting

Module 3: Income Tax

Module 4: Sales Tax

Module 5: Corporate Tax

Module 6: IPO and Chamber of Commerce

Introduction to Initial Public Offerings (IPOs) and stock market regulations
Steps involved in launching an IPO and the role of the Securities and Exchange Commission of Pakistan (SECP)
Understanding the IPO process, listing requirements, and regulatory filings
Chamber of Commerce: Role in business registration and tax compliance
How to become a member of the Chamber of Commerce
The benefits of Chamber of Commerce membership for businesses
Networking and business development opportunities through the Chamber
Understanding trade and industry regulations relevant to business operations

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About Course

What Will You Learn?

Course Content

Module 1: IRIS

Introduction to the FBR’s IRIS system for online tax filing and returns submission

How to create and manage your IRIS account

Navigating the IRIS portal: e-filing of tax returns, statements, and forms

Viewing and managing tax payments, refunds, and notices

Understanding the IRIS dashboard and tax records management

Using IRIS for tax audits, assessments, and communications with FBR

Module 2: Basic Accounting

Introduction to accounting principles and terminology

Setting up basic financial statements: Balance Sheets, Income Statements, and Cash Flow Statements

Double-entry bookkeeping system

Recording transactions and maintaining ledgers

Understanding journal entries and posting to T-accounts

Preparing trial balance and understanding financial ratios

Basics of financial reporting and the role of accounting in tax compliance

Module 3: Income Tax

Understanding Pakistan’s Income Tax Ordinance

Different types of income (salary, business, rental, capital gains, etc.)

Income tax calculations for individuals and corporations

Filing income tax returns (individual, company, and salaried)

Tax deductions, credits, and exemptions

Understanding tax slabs and tax rates

Managing income tax notices, appeals, and assessments

How to handle tax audits related to income tax

Module 4: Sales Tax

Introduction to Sales Tax (GST) in Pakistan

Sales Tax registration process and requirements

Filing Sales Tax returns (monthly, quarterly, and annually)

Sales Tax on goods and services, exemptions, and rates

Maintaining records for Sales Tax purposes

Sales Tax audits and assessments

Managing input and output tax calculations

Tax filing obligations for businesses involved in goods and services

Module 5: Corporate Tax

Understanding the corporate tax structure in Pakistan

Corporate tax registration process and requirements

Filing corporate tax returns and compliance obligations

Corporate tax rates and exemptions

Handling corporate tax audits, assessments, and appeals

Tax treatment of dividends, capital gains, and losses

Corporate governance and compliance in tax matters

Managing tax on mergers, acquisitions, and business restructuring

Module 6: IPO and Chamber of Commerce

Introduction to Initial Public Offerings (IPOs) and stock market regulations

Steps involved in launching an IPO and the role of the Securities and Exchange Commission of Pakistan (SECP)

Understanding the IPO process, listing requirements, and regulatory filings

Chamber of Commerce: Role in business registration and tax compliance

How to become a member of the Chamber of Commerce

The benefits of Chamber of Commerce membership for businesses

Networking and business development opportunities through the Chamber

Understanding trade and industry regulations relevant to business operations

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