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As a good citizen of Pakistan we have liability to contribute our part for the betterment of country. A tax liability is the amount of taxation that a business or an individual incurs based on current tax laws. Taxes are imposed by a variety of taxing authorities, including federal, state and local governments.
Please review following details for tax details and contact us for prompt solution of your relevant issue.
The Federal Board of Revenue (FBR), formerly known as Central Board of Revenue (CBR), is a top federal government organization of Pakistan issues the National Tax Number (NTN), which is used as the identity of any business; like companies and individuals like salaried persons and business executives. Every taxpayer should have an NTN number and it can be verified online from the website of Federal Board of Revenue (FBR) Pakistan. This is necessary for bank account opening, business transactions, tax return fillings of individuals and companies and as well as for filing tender notices and bids with government departments, developmental organizations and multinational companies.
Every person, who is doing job in public or private sector on a reasonable post must have NTN for filing of annual income tax return to become filler and the non-filer has to face the high rates of withholding tax on banking transactions, vehicle purchase and vehicle token.
Requirements of e-enrollment for a Salaried Person are as follows:
Any sole proprietor, company director and firm partner must have NTN as a Business Individual category for filing of annual income tax return to become filler and the non-filer has to face the high rates of withholding tax on banking transactions, vehicle purchase and vehicle token. Having an NTN as sole proprietors, the individuals can open bank account and are not required to be registered with any other regulatory or registration authority and they can file tender notices and bids with government departments, developmental organizations and multinational companies.
Requirements of e-enrollment for Business Individual are as follows:
The Association of Partnership is also called Partnership Firm also required NTN to file income tax return to become filer and to avail lower tax rate like withholding tax on business transactions, either supplies and service.
Principal Officer of AOP needs to ensure that the following information is available before starting an e-enrollment.
Following particulars are required for registration:
Company is called the private limited company, public limited company, single member company, non-profit company and non-governmental organization is required NTN to file income tax return, whether operational or non-operational and to avail lower tax rate like withholding tax on business transactions, either supplies or service.
Principal Officer of company needs to ensure that the following information is available before starting e-enrollment
Following particulars are required for registration:
Requirements for registration of non-resident company having permanent establishment in Pakistan shall furnish the following particulars:
Non-resident company not having permanent establishment in Pakistan shall furnish the following particulars:
Any registered business involved in activities on which sales tax (also called General Sales Tax –GST), is applicable are liable to get registered with FBR for sales tax as well as with other provincial revenue authorities if applicable. Sales tax registration is also required to enter bidding or tendering process with a government department, development agencies, or multinational company, even a business is not involved in taxable activities.
Following documents required for Sales Tax Registration:
For Business Individuals:
For AOP/Partnership Firms:
Note: Sales tax registration with FBR is required for AOP is required if AOP is involved in taxable activities.
For Companies
Note: Sales tax registration with FBR is required for Company, if Company is involved in taxable activities.
Provincial revenue authorities / boards were constituted in provinces, after the 18th constitutional amendment in Constitution of Islamic Republic of Pakistan collection of sales tax on services came under the domain of provinces and the service providers are required to be registered with relevant provincial revenue authorities in the jurisdiction of which services are rendered, if business providing services are running in two or more provinces then registration with all relevant provincial revenue authorizes required.
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