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NTN Stands for National Tax Number-NTN Registration with FBR

TAXOCRATE (Pvt) LIMITED

We offer expert services for Company & NGO Registration, e-Filling of Income Tax & Sales Tax Returns, Audit & Accounts.

发布日期: 2022年3月16日

NTN Registration with FBR

In this article, we answer the questions about NTN, such as what NTN stands for. what NTN is, the purpose of NTN benefits of NTN, the documents required for NTN, and the penalty for not having NTN.

Do you want to get an NTN (National Tax Number)?

In Karachi, Lahore, and Islamabad, the NTN (National Tax Number Certificate) can be obtained through Taxocrate's NTN Service for a nominal professional fee. You can contact them with the required information and documents.

What is NTN? For What Does NTN Stand For?

The NTN stands for the national tax number. It is issued by the FBR to all Pakistanis who have taxable income.

Why is NTN necessary?

Before engaging in taxable transactions, taxpayers are required to obtain a National Tax Number (NTN). Income Tax, Sales Tax, and Federal Excise payments all require National Tax Numbers (NTNs). In addition to taxation, NTNs can also be used to register for import and export through WeBOC or PSW.

Are there any benefits to having an NTN?

Obtaining a National Tax Number has numerous benefits.

Every taxpayer must get a national tax number and file a return of income to carry out state operations.
??Assesses must submit tax forms and deposit tax in the government's treasury to obtain a National Tax Number.

??The assessor can request an exemption certificate if he/she qualifies for it.
??Taxpayers are welcome to become members of the Chamber of Commerce and Industry and utilize its services.
??Furthermore, you have the option of claiming a tax refund.
Imported raw materials are taxed at reduced rates for manufacturers.
Exporters must obtain both Sales Tax and NTN registration before making a shipment.

Which documents are required for getting an NTN?

A photocopy of the CNIC
Bill of electricity paid within the past three months
?Tenancy agreement or ownership documents of the residential premises
Details of any bank accounts (if any)

Is There a Penalty for Not Having An NTN?

Yes. A fine of five thousand rupees will be imposed on businesses that fail to display the NTN at their place of business as required by the Income Tax Ordinance, 2001 and Income Tax Rules, and Regulations.