Glossary

Glossary of TaxAible Terms

This glossary defines the key technical and compliance terms you may encounter while using TaxAible or reviewing your tax documentation.

Term	Definition and Context
Active Taxpayer List (ATL)	A list of individuals and companies who have filed their income tax returns for the latest tax year. Filing as an ATL provides tangible benefits, such as lower withholding taxes, easier financial access, and legal protection.
FBR	Acronym for the Federal Board of Revenue, the primary revenue division of the Government of Pakistan. TaxAible ensures compliance with FBR rules.
Natural Language Processing (NLP)	The underlying technology that allows TaxAible to understand and process your input when you file your taxes by simply chatting in local languages like English or Urdu.
Personalized Tax Optimization	The process where intelligent algorithms analyze each user’s financial profile to maximize deductions and ensure accuracy.
Wealth Statement	A mandatory financial declaration that outlines a taxpayer's assets and liabilities. TaxAible is designed to fill out your wealth statement automatically based on your conversation.
Tax Slabs	Defined income brackets that determine the rate at which an individual's income is taxed. TaxAible performs automatic calculation of tax slabs in real-time.
FTR	Acronym for Final Tax Regime, a system of taxation where the tax deducted or collected is considered the final discharge of tax liability for that income. TaxAible includes the automatic calculation of FTR.
Tax Filing Gap	The discrepancy between the number of employed individuals (over 79 million) and the low number of active tax filers (only 7.3 million) in Pakistan, which TaxAible aims to close.
Bank Statement Integration	A feature where the AI uses secure integration to auto-analyze transactions in your bank statements to identify deductible expenses and maximize tax efficiency.