What is an NTN or National Tax Number?
The NTN is the abbreviation for National Tax Number, which is a unique identifier used by the Pakistani Government to track its citizens, permanent residents, and temporary residents for employment, taxation, government benefits, healthcare, and other Government-related services. The NTN (National Tax Number) is a distinctive identity number issued by the Federal Board of Revenue (FBR), a Pakistani tax authority, to verify business registration. NTN (Income Tax Registration) is required to perform any taxable activity, either commercial or income-generating trading.
Why is the NTN (National Tax Number) required?
NTN is required for income-earning individuals, entrepreneurs, business firms, companies, and NGOs / NPOs. NTN is required to file an income tax return. Suppose you are not an active income tax filer. In that case, you attract a higher / higher withholding tax rate for cash withdrawals from banks, transfer transactions, car purchases, and property sale/purchase transactions.
Who should have an NTN (National Tax Number)?
Whether you are a salaried individual or a businessman, you need to obtain your NTN – National Tax Number. Your NTN enables you to pay your taxes based on your annual income and other taxes. However, most people are unaware of their NTNs, despite paying the correct taxes every year. NTN is also important when you need to file numerous essential government documents, open a bank account, or apply for a new electricity or gas line connection.
Benefits of having an NTN (National Tax Number)
After NTN registration, you can easily become a taxpayer by filing an annual income tax return, and do not have to worry about additional withholding tax burden/penalties, during any financial transactions such as bank withdrawals, monthly or annual profits on savings accounts, prize bond winning, vehicle or immovable properties purchases & registrations, dividends, and any other cash benefits from stocks, or another type of investment.
NTN (National Tax Number) For Companies
The Income Tax Ordinance 2001 stipulates that each public and private company must have its NTN registered in Pakistan to file monthly and quarterly income tax statements, as well as yearly income tax returns, for conducting business in Pakistan. Since the introduction of the Income Tax Ordinance in 2001, NTN has been assigned a permanent tax number, eliminating the need for periodic renewals. This step has provided another easy way for people to register for NTN in Pakistan.
Documents Required for Registration of NTN for Companies in Pakistan:
- A valid CNIC copy of all Directors/Shareholders/Subscribers
- A copy of the company’s recently paid Electricity Bill
- Deeds or Lease Agreement (Lease Agreement printed on stamp paper)
- National Tax Number for all Directors/ Share-holders/Subscribers of the Company
- Certified copies of Articles & Memorandum of the Company
- Certified Copy of the Incorporation Certificate
- Certified copies of the Incorporation Form II
- Bank Account Maintenance Certificate
- Contact Numbers (Phone & Line) and a valid email address
- A letter of authority issued by all directors of the company to authorize one director as the company representative for the NTN registration before the FBR authorities. Type of business
Documents Required for NTN Registration for a Business in Pakistan:
- Certified copy of CNIC
- A copy of the most recently paid electricity bill of your office, factory, workshop or any place of business
- Application to Business Letter Head for issuance of NTN
- Deeds or Lease Agreement (Lease Agreement printed on a stamp paper)
- Contact Numbers (Mobile), with a valid email address
- Type of business
Documents Required for Registration of Firm’s NTN in Pakistan:
- Official CNIC copy of all Business Partners
- A copy of the paid electricity bill of the place of business, which should not be older than 3 months.
- Property Documents or Lease Agreement (Employment Agreement printed on stamp paper)
- National Tax Number for all Business Partners
- Application for NTN release on Head Office
- Copy of Partnership Deed (Certified)
- Copy of Partnership Registration Certificate (Form C)
- Contact Numbers (Mobile) with a valid email address
- The ratio of profit and loss sharing between partners
- Type of business
Documents Required for Registration of NTN for Salary-paid persons in Pakistan:
- Certified copy of CNIC
- A copy of the newly paid household electricity bill
- The latest salary slip or letter from the Employer
- Contact Number (Mobile), with a valid email address
- Your employer’s National Tax Number (NTN), and your complete office address
We help with NTN (National Tax Number) Registration.
NTN registration is required for any taxable activity, business transaction, or salary transaction exceeding Rs. 50,000. We understand that obtaining an NTN registration in Pakistan can be a complex and challenging process for you. Therefore, we offer our professional NTN registration services to make the process easier. At Taxocrate, our legal advisors have extensive experience in working with diverse businesses across various industries. We perform legal procedures and documentations, such as NTN registration, with no problems for individuals and business owners. Our legal experts will guide you through the NTN registration process, filing sales tax returns, and other tax-related tasks, while also handling all the necessary legal work for you, allowing you to focus on your business with peace of mind.
Our professional lawyers and legal advisors are just a phone call away from you. Call us now to discuss your NTN registration and income tax filing.
Call for Free Consultancy +92-331 6644789
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Understanding the National Tax Number (NTN)
What is an NTN?
The NTN, or National Tax Number, is a unique identifier utilized by the Pakistani Government to monitor its citizens, permanent residents, and temporary residents for various purposes such as employment, taxation, government benefits, healthcare, and other government-related services. It is a distinctive identity number issued by the Federal Board of Revenue (FBR), which serves as the Pakistani tax authority, primarily to verify business registration. Obtaining an NTN is essential for engaging in any taxable activity, whether commercial or income-generating trading.
Importance of the NTN
Why is the NTN Required?
The NTN is mandatory for income-earning individuals, entrepreneurs, business firms, companies, and NGOs/NPOs. It is necessary to file an income tax return, and failure to obtain an NTN may result in higher withholding tax rates for various transactions, including cash withdrawals from banks, transfer transactions, car purchases, and property transactions.
Who Needs an NTN?
Whether you are a salaried individual or a businessperson, obtaining your NTN is crucial. It enables you to pay taxes based on your annual income and other obligations. Despite paying the correct taxes annually, many individuals remain unaware of their NTN. The NTN is vital for filing essential government documents, opening bank accounts, or applying for new utility connections like electricity or gas.
Benefits of Obtaining an NTN
After registering for an NTN, you can easily file your annual income tax return. This registration alleviates the burden of additional withholding taxes or penalties during financial transactions, such as bank withdrawals, profits from savings accounts, vehicle purchases, or property registrations.
NTN for Companies
Legal Requirements
According to the Income Tax Ordinance 2001, every public and private company in Pakistan must have its NTN registered to file monthly and quarterly income tax statements, along with yearly returns. Since the introduction of this ordinance, NTN has been assigned as a permanent tax number, eliminating the need for periodic renewals, thus simplifying the registration process.
Documents Required for Company NTN Registration
- Valid CNIC copy of all Directors/Shareholders/Subscribers
- Recent Electricity Bill of the company
- Deeds or Lease Agreement (printed on stamp paper)
- National Tax Number for all Directors/Shareholders/Subscribers
- Certified copies of the Articles & Memorandum of the Company
- Certified Copy of the Incorporation Certificate
- Certified copies of the Incorporation Form II
- Bank Account Maintenance Certificate
- Contact Numbers (Phone & Line) and a valid email address
- Letter of authority from all directors to authorize one director as the company representative for NTN registration.
NTN Registration for Businesses
Required Documents
- Certified copy of CNIC
- Most recent Electricity Bill
- Application on Business Letter Head for NTN issuance
- Deeds or Lease Agreement (printed on stamp paper)
- Contact Numbers (Mobile) and a valid email address
NTN Registration for Partnerships
Required Documentation
- Official CNIC copy of all Business Partners
- Recent Electricity Bill for the place of business
- Property Documents or Lease Agreement (printed on stamp paper)
- NTN for all Business Partners
- Application for NTN release on Head Office
- Copy of Partnership Deed (Certified)
- Copy of Partnership Registration Certificate (Form C)
- Contact Numbers (Mobile) and a valid email address
- Profit and Loss Sharing Ratio between partners
NTN Registration for Salaried Individuals
Required Documents
- Certified copy of CNIC
- Recent Electricity Bill
- Latest Salary Slip or Employer Letter
- Contact Number (Mobile) and a valid email address
- Employer’s NTN and complete office address
Professional NTN Registration Services
Obtaining an NTN is essential for any taxable activity or transaction exceeding Rs. 50,000. At Taxocrate, we understand that the NTN registration process can be complex. Our professional NTN registration services simplify this process. Our legal advisors possess extensive experience across various industries, ensuring smooth legal procedures and documentation. We guide you through the NTN registration process and assist with filing sales tax returns and other tax-related tasks, allowing you to focus on your business with peace of mind.
Contact Us for Free Consultancy
Our professional lawyers and legal advisors are just a phone call away. Contact us now to discuss your NTN registration and income tax filing needs.
Call for Free Consultancy: +92-331 6644789