(KARACHI) Four mobile applications for taxation and corporate law were launched by ‘S.M. Rehan and Co, Chartered Accountants’ for the first time in the history of Pakistan. No internet connection is required once the application has been downloaded and comes with one year free updates.
“I have gone through the mobile applications introduced by S. M. Rehan and Co and I am pleased to admit that the idea is excellent and the need of time.”
These thoughts were expressed by Dr. Muhammad Tariq Masood, Chief Commissioner RTO II, Federal Board of Revenue (FBR), Karachi on Wednesday. He further said that these applications will lead others to new dimensions of time and will help combine the taxation and mobile applications.
“I expect that these will ease the problems of the masses as well as professionals on one hand and on the other the applications will meet the general expectations”, he added.
While explaining the concept behind the mobile applications, S. M. Rehan, the CEO of S. M. Rehan and Co said that being practicing Chartered Accountants we were well aware of problems faced by the general public. A common man cannot work out the income tax liability due to the complex workings of rebates, fixed tax, final tax, normal tax and the calculations of withholding tax. The issue of filer and non-filer has also made this quite complicated.
“Thus a simple and easy solution was the need of time and all these issues have been solved through these applications in a user-friendly manner. The mobile application Tax Calculator is the idea introduced for the first time in Pakistan keeping in mind the general public to bypass complex tax workings and engaging consultants for typical tax calculations which will facilitate business decision making”, he added.
The SMRCO Tax Calculator calculates Income tax of individuals and AOPs for tax year 2017. It also calculates all rebates, all income tax withholdings and provides status of “Filer” and “Non Filer.”
Through SMRCO INCOME TAX people can review Income Tax Ordinance, 2001 amended up to 30-06-2012, 30-06-2013, 30-06-2014, 30-06-2015 & 15-12-2016 separately; Income Tax Rules, 2002 amended up to 31-12-2015, 18-10-2016 & 10-02-2017 separately; All double taxation treaties; Income Tax Circulars from 1979; Income Tax SROs/Notifications from 1991 and Jurisdiction Orders.
SMRCO Sales Tax focuses on Federal Sales Tax Act 1990, Federal Excise Act 2005, The Sindh Sales Tax on Services Act 2011, The Punjab Sales Tax on Services Act 2012, The Khyber Pakhtunkhwa Finance Act 2013, The Baluchistan Sales Tax on Services Act 2015 and Islamabad Capital Territory (Tax on Services) Ordinance 2001.
Through this application people can review Acts, Rules, Notifications, Circulars, General Orders, All Schedules and Withholding Rules. NBP Authorized Branches List for Tax Collection and facility of searching of a particular word is also available here. By using SMRCO SECP, people can review on their mobile all Acts and Ordinances as available on SECP’s website; all Rules, Regulations, Directives & Guidelines; SECP Notifications from 1986; SECP Circulars from 1999; State Bank of Pakistan Foreign Exchange Manual; Calculation of registration fees, filing fee and addition in authorized share capital.