A Chaman trader's return brings together import advance tax, trading profit and assets acquired during the year. This page explains what to include.
Trading Profit
Profit equals sales less the cost of goods sold and running expenses. Importers include duties and freight in the cost of goods. Without purchase and sale records, FBR may estimate profit, usually less favourably.
Advance Tax at Import
Tax collected by customs is listed by goods declaration number and claimed as a credit. Where it is a minimum tax on certain goods, it may not be refundable; the nature of each collection should be checked.
Transport Income
Truck owners show freight income less fuel, repairs, drivers' wages and depreciation; tax paid with the vehicle token is credited.
Wealth Statement
Houses, shops, vehicles, gold and cash held on 30 June are listed, with the year's increase explained by declared income.
Family Members
Brothers who share a business but have not made a partnership should each declare their own share consistently.
Shopkeepers in the Main Bazaar
Retail shops selling cloth, shoes, electronics and household goods in the main bazaar calculate profit from purchases, sales and the stock counted on 30 June. Where wholesale suppliers in Quetta deduct tax on supplies, that deduction is claimed as credit.
Employees of Customs and Other Departments
Federal employees posted at the border have tax deducted from salary. A return claims any excess and records land or houses owned in their home districts.
Also see tax consultant in Chaman and NTN registration in Chaman.
Frequently Asked Questions
Is customs advance tax always refundable?
Not always; some collections are minimum tax, so check before claiming a refund.
What if I do not keep purchase invoices?
FBR may estimate profit, so keeping invoices protects you.
Do brothers in a joint business file separately?
Without a registered partnership, each declares his share in his own return.