Managing your financial records can be overwhelming — especially when it comes to preparing your wealth statement for the FBR. At M&M Global Nexus, we take the stress out of the process with our comprehensive wealth statement preparation and filing services. Our experienced team works closely with you to gather, organize, and report your assets, liabilities, income, and expenditures in full compliance with tax regulations. Whether you're filing for the first time or need to update existing records, we ensure accuracy, transparency, and peace of mind — helping you stay fully compliant and avoid unnecessary tax scrutiny.
We simplify the process of wealth statement preparation by collecting and organizing your financial details in line with FBR requirements. From assets and liabilities to income and expenses, we ensure every section is completed accurately to avoid discrepancies and keep your tax profile clean.
Our team consists of certified financial professionals with extensive experience in Pakistani tax laws and wealth statement requirements.
We ensure your wealth statements are filed well before deadlines, helping you avoid late filing penalties and compliance issues.
We maintain strict confidentiality of all your financial information and wealth details, ensuring your privacy is protected.
Our meticulous approach ensures all your wealth statement documents are accurately prepared, reducing the risk of audits or inquiries.
We provide ongoing support throughout the wealth statement filing process and remain available for any post-filing queries or assistance.
We help you strategically plan your wealth disclosure to ensure compliance while optimizing your financial position.
Contact our expert team today for professional wealth statement preparation and filing services. We'll handle all the complexities while ensuring full compliance with FBR regulations.
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Individuals who are required to file wealth statements include those with taxable income exceeding Rs. 1 million in a tax year, commercial or industrial electricity consumers, owners of immovable property with a land area of 500 square yards or more, owners of motor vehicles with engine capacity of 1000cc or more, and members of registered clubs with annual fee of Rs. 50,000 or more.
A wealth statement includes details of all assets and liabilities as of the last day of the tax year, assets and liabilities of spouse and dependent children, personal expenses during the year, and details of tax paid during the year.
Failure to file a wealth statement when required can result in penalties, including a fine of 0.1% of the taxable income for each day of default, minimum Rs. 10,000. It may also lead to exclusion from the Active Taxpayers List (ATL) and higher withholding tax rates on various transactions.
Different assets are valued according to specific FBR guidelines. For example, immovable properties are generally valued at cost or FBR-notified values, whichever is higher. Motor vehicles are valued at cost less depreciation, while investments are valued at cost or market value depending on the type of investment.
Yes, you can revise your wealth statement within 5 years of filing the original statement. However, frequent revisions may attract scrutiny from tax authorities, so it's best to ensure accuracy in the initial filing.
Professional services like ours help ensure accurate valuation of assets, proper documentation of all financial information, reconciliation of wealth with income and expenditure, and timely electronic filing. We also provide strategic advice to maintain compliance while protecting your financial interests.