13/03/2021
To everyone posting about FBR's Crackdown against the freelancers here is a complete guide and answers to all of your questions.
1- Become a Filer and register a business under your name. For example XYZ TECH ( An accountant will cost you max 15-20k for doing all the work)
2- Now you have registered a business with FBR. Open up a bank account with the same business name that you registered with FBR. For example, XYZ TECH
3- Get your business registered with PSEB with the same name under the company category. For example, XYZ TECH. This is your license to export IT services. They will charge you 5k the first time and 10k every year for the renewal of your registration.
Payoneer to Bank
We wouldn't recommend Payoneer to Jazz cash. Jazz cash does pay you extra but your flow is disturbed especially when you need PRC they will give you a very tough time. You will have to email back and forth
Go for Payoneer to Direct bank transfer.
First, add your Business bank account( XYZ TECH) in Payoneer as a recipient.
For the transfer you will select the option: Make a Payment
To a Recipient’s Bank Account and do the transfers. These will fall directly into your business bank account.
Once you have completed all of these steps. All of your income is recorded + you are tax exempt because your income falls into the exempted income according to FBR.
Benefits: If you are registered with PSEB you get a lot of benefits that can be seen on PSEB's website.
PSEB Renewals: After 1 year they will ask you for the Form-R in your case these will be your PRCs certificates that you will get from your bank.
Conclusion: You are now registered with the government. All of your money is 100% white no fear of FBR of anyone else.
