The Sales Tax Act 1990 applies almost to each and every business engaged in import, export, sale
and purchase of goods that fall within its domain. This mean that every person engaged making
taxable supplies including zero-rated supplies in Pakistan and is importer; exporter; seller;
distributor; retailer; or wholesaler of goods is required to get registered for sales tax with Federal
Board of Revenue (FBR).
To open a business bank account, you'll need to provide the bank with a few key documents. These
include a certificate of deposit, a recent electricity bill for your business premises, and a GPS-tagged
photo of your business premises. The certificate of deposit shows that you have the minimum
amount of money required to open an account, and the electricity bill and photo help the bank
verify your business address.
Using IRIS Portal select Form 14(1) in Registration Tab on the Top of the Screen. Upon selecting the
option system will ask you about the following information:
In order to file your taxes, you will need to provide some information about your business. If you are
an individual business, you will need to specify whether you are a manufacturer or something else. If
you are a partnership firm, AOP, or company, you will need to provide details about your principle
officer or authorized representative.
You will also need to attach a bank account maintenance certificate that shows your IBAN number.
Finally, you will need to enter some basic details about your business, such as the business name,
activities, and address.
After receiving your Registration Number, you are required to visit the nearest NADRA E-Sahulat
Centre within 30 days for biometric verification. If you do not complete your biometric verification
within the given time, your Sales Tax registration will be cancelled and your name will be removed
from the Active Taxpayer list of Sales Tax.
At Burhan & Associates, we're proud to offer our clients successful registration and filing of sales tax
returns in order to take advantage of plentiful tax benefits in Pakistan. We also offer services to
clients engaged in dispute pertaining to Custom, FBR, and PRA tax audits, tax collection cases,
penalty waivers, as well as tax appeals. We have a deep understanding of the legal and procedural
issues in Tax disputes and recognize the uniqueness of each case. Thus, we seek out solutions that
put our clients in the best position to achieve their goals in no time.
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