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Frequently Ask Questions (FAQ)

How does Taxwise work?

Taxwise simplifies the tax filing process with a user-friendly interface. Answer simple questions, provide basic information, and our system will calculate your final tax refund or obligation.

Why should I use Taxwise?

Taxwise educates you on your finances, helps you save taxes, and keeps track of past years' information. It ensures you file your return correctly and guides you on available tax credits.

What do I need to get started?

Sign up with Taxwise, enter basic information, and pay for our services using common payment methods like debit/credit card.

Is my information secure?

Yes! We use top security standards to ensure the confidentiality and security of your data.

Is there any benefit of becoming filer besides compliance?

Tax filers can take the benefit of various taxes paid by them on various transactions like taxes paid on utility bills, cash transactions, educational fees, business class air tickets, purchase of motor vehicle and properties etc. In addition, filers can also get tax credits for investment in mutual funds and insurance premiums and donations or zakat paid to approved charitable organizations.

A non-filer is also subject to higher withholding tax rates including on bank transfers, motor vehicle taxes, capital gains, dividend income, etc.

I don't have any property or valuables in my name; do I still have to file wealth statement along with the income tax return?

Wealth statement has to be filed by a resident individual who is required to file his income tax return. It is simply a statement of your assets and liabilities. In this statement you have to mention the details of all the assets that are in your name or your dependents like your wife and children. Some of the common examples of assets are properties, vehicles, jewelry, cash at bank and saving certificates etc. You are also required to provide details of your personal expenses as part of your wealth statement e.g. rent, Travelling, utility charges, education and other household expenses.

Even if you do not have any assets and liabilities, being a resident individual, you are required to file Wealth Statement showing movement of assets from the beginning of the year on July 1 till end of year on June 30 and reconcile the income earned with expenses incurred during the year.

Is there any penalty if I don't file my tax return?

Yes. If you fail to file your tax return then you could be fined with a minimum penalty of Rs 20,000.

What about customer support?

Taxwise is backed by leading tax experts so you can be sure of receiving best services from the experts. You can reach us any time using the following modes:

  • Phone: 0333 5990087 
  • Email: info@taxwise.pk

Taxwise is asking me to enter my sensitive information. Will my information remain secure and confidential?

Yes! Your tax information is secured using top security standards and transmitted over secure computer network to ensure the security and confidentiality of your data.

For further assistance, contact us via phone at 0333 5990087 or email at info@taxwise.pk.