This blog is written by Mr. M. Wasim Roshan, Senior Associate Taxation, Audit and Corporate Services. Please send this procedural blog and provide your valued comments.

Tax Amnesty Scheme 2018, How to move through FBR online system

  1. Calculate your taxes

Once you have registered, you will be able to log into Iris,

Calculating taxes on foreign assets:

When you log in. If you are looking to declare your foreign assets, you will need to click the “Declaration and repatriation of assets and income held outside Pakistan”

You will be directed to the page, Once there, you will have to add the tax “Period” first,

You will have to input “2018” in the “Tax Period” and click the search icon. “Select” the relevant period,

As a result, you will be directed to the page, where you can input the details of the foreign assets that you want to declare. Clicking on “Foreign Assets”, “Liquid assets not repatriated” and “Immovable Property” will open screens where you can input the details of your property. You just have to input amounts in the field where editing is enabled. In places where you may have to input additional details about the amounts, you will see the “+” sign and you can click it to add the details.

Once you have added all the details, you will need to “Calculate”.

  1. PSID generation

To make payments under either of the above options, you will have to visit the FBR portal . That’s where you will be able to generate Payment Slip ID (PSID).

Click on “e-Payments” and then click “Income Tax” tab within it,

You will be taken to the page, where you will select the “Tax Year” (2018) and change the “Select

Type” to “CNIC”. Finally, you will have to write your CNIC number in the section right below it, with dashes. The system will fill out the remaining details for you.

In the “Direct Taxes Payment” section below, you will have to “Select Tax Payment Nature”. For amnesty scheme, choose “Admitted Income Tax.”

To pay taxes on foreign assets

Further select “92033-5- Payment of tax on Repatriation of

assets & income under Section 5”.

Add amount.

Add payment method, enter the amount in the proper section again, enter your mobile number and email, and click “Create”.

You will be directed to the following screen. There, you can note down the PSID number or print out the PSID.

Muhammad Wasim Roshan