KARACHI: With the aim to broaden tax net and solve tax-related issues, a private firm has introduced four mobile applications for taxation & corporate law.
About mobile apps, Federal Board of Revenue’s (FBR) RTO II Chief Commissioner Dr Muhammad Tariq Masood has said that he has gone through the mobile applications introduced by SM Rehan & Co and it’s an excellent idea and the need of time.
No internet connection is required once the application has been downloaded and comes with one year free updates.
Dr Muhammad Tariq Masood further said that these applications will lead others to new dimensions of time and will help combine the taxation & 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 apps, S M Rehan, the CEO of S. M. Rehan & 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 & 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.
