A WORKING REPORT ON THE TAXATION OF FINANCE DEPARTMENT OF WARID TELECOM, INTRNATIONAL

Abstract

With the objective to provide Next Generation Network (NGN), Warid Telecom started its journey on 10th May 2007 as 5th GSM based telecom service provider. Committing to provide fastest, crystal clear, zero call drop, best call rate, exclusive & intensive services. Warid Telecom investing more and more it’s every department. The Taxation of Finance Department is participating indirectly in this operation .The job of Taxation of Finance Department includes: (a)Maintaining Mushak-16 as purchase Account Book, (b) Maintaining Mushak-17 as sales Account Book, (c) Calculation of VAT & supplementary duty (SD), (d) Maintaining Mushak-18 as a VAT current Account, (e) Maintaining & prepare “Mushak-19” for submission of return for each tax period, (f) Using form Mushak-11 & Mushak-11Kha, (g) Submission of Monthly TAX Return, (h) Issuing VAT & TAX Certificate, (i) Coordination with other department (j) Reconciliation VAT deducted at source with payable department. As a part of the total effort of proving better services in the Telecom Sector, Taxation of Finance Department have to maintain certain procedures. Moreover, their effort contribute towards the profit of the company and the revenue of the company.