In Pakistan, sales tax registration is mandatory for businesses that are engaged in taxable activities and have an annual turnover of more than Rs. 5 million. The registration process is handled by the Federal Board of Revenue (FBR) and involves obtaining a Sales Tax Registration Number (STRN).
Here is a general overview of the steps involved in sales tax registration in Pakistan:
- Obtain a National Tax Number (NTN) from the Federal Board of Revenue (FBR).
- Fill in the sales tax registration form (Form ST-1) and submit it along with the required documents to the FBR office. The required documents include a copy of the National Identity Card (NIC) of the business owner, a copy of the business registration certificate, and a copy of the utility bill of the business address.
- The FBR will review the application and, if approved, will issue a Sales Tax Registration Number (STRN) to the business.
- Once the STRN is obtained, businesses are required to file sales tax returns on a monthly or quarterly basis, depending on their turnover.
- Businesses are also required to maintain proper records of their sales and purchases and keep invoices and bills as proof of transactions.
It’s important to note that laws, regulations and procedures may change and it is recommended to consult with a professional or relevant authorities before taking any action.
Sales tax registration is mandatory for businesses in Pakistan that are engaged in taxable activities and have an annual turnover of more than Rs. 5 million. The registration process is handled by the Federal Board of Revenue (FBR) and involves obtaining a Sales Tax Registration Number (STRN). Once registered, businesses are required to file returns and maintain proper records of their transactions. Failing to register for sales tax or submit returns can result in penalties and fines.