Catering to the entire range of tax registration services in Pakistan

Register as a tax filer for your income or business with our tax solutions covering the entire spectrum of tax filing and registration.

WHAT WE DO

Assisting you in Filing Income and Sales Taxes along with NTN Registration

Since our establishment in 2017, AXIS IP has been proactive in delivering comprehensive intellectual property services. Our expertise extends to not only patent and trademark registration but also includes proficient tax registration services. With a focus on facilitating seamless compliance, our tax registration services encompass the entire spectrum — from consultancy to filing processes. We specialize in guiding you through the intricacies of becoming a registered tax filer in Pakistan, covering aspects of income tax, NTN registration, and sales tax registration. You can trust AXIS IP to navigate the complexities of tax regulations, ensuring your business is positioned for compliance and success in the evolving tax landscape.

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Why Consider Becoming a Registered Tax Filer?

Legal Compliance

Registering as a tax filer is a legal obligation for individuals and businesses with taxable income. Compliance with tax regulations is crucial to avoid penalties and legal consequences.

Financial Transparency

Being a registered tax filer demonstrates financial transparency, enhancing your credibility and trustworthiness in financial transactions, business dealings, and collaborations.

Access to Government Services

Many government services and incentives are available exclusively to registered tax filers, offering opportunities for financial assistance, subsidies, and other benefits.

Banking Transactions

Banks often require tax filing information for various financial transactions, including opening business accounts, applying for loans, and engaging in large financial transactions.

Comprehensive Financial Record

Regular tax filing contributes to the maintenance of a comprehensive financial record. This is beneficial for financial planning, budgeting, and decision-making.

Avoiding Withholding Tax

As a registered tax filer, you have the benefit of avoiding higher withholding tax rates on various transactions, including banking transactions and more.

What are the Different Types of Taxes in Pakistan?

Pakistan’s taxation system can be complex. While broadly categorized into direct and indirect taxes, it encompasses over 70 different types managed by around 37 organizations. This complexity, while providing diverse revenue streams, can be challenging for both individuals and businesses to navigate.

Direct taxes include:

Income tax:

A levy on individual and corporate income exceeding a certain threshold.

Property tax:

An annual charge on the ownership of immovable property like land and buildings.

Capital Gain Tax:

A tax on profit earned from selling capital assets like stocks or property.

Indirect taxes include:

Sales Tax:

A multi-stage tax levied on the sale of goods and services at various points in the production and distribution chain.

Value Added Tax (VAT):

Similar to Sales Tax, but specifically imposed on the added value of goods and services at each stage of production and distribution.

Excise Duty:

A tax levied on the production, sale, or consumption of specific goods like alcohol, tobacco, and fuel.

Custom duty:

A tax charged on imported or exported goods across national borders.

From NTN to Sales Tax, Streamline Your Tax Registrations

At Axis IP, you get to avail services pertaining to intellectual property, including handling of NTN, Sales Tax, and more to keep you on the path to financial success.

What is Tax Registration in Pakistan?

Tax registration in Pakistan involves the formal process through which individuals and businesses obtain unique identification numbers to fulfill their tax obligations. The registration is facilitated by the Federal Board of Revenue (FBR), and it includes various categories such as:

National Tax Number (NTN): A unique identifier for income tax purposes issued to individuals and businesses.
Sales Tax Registration Number (STRN): Essential for businesses engaged in the sale of taxable goods or services, enabling them to collect and remit sales tax.
Withholding Tax Agent Registration: Required for entities responsible for withholding tax on behalf of others, such as employers deducting tax from employees’ salaries.

How to Become a Registered Tax Filer in Pakistan?

To become a registered tax filer, you can follow the procedures listed briefly for Income Tax and Sales separately or consult the services of Axis IP.

Income Tax Registration in Pakistan:

Gather your necessary documents: CNIC/NICOP/Passport, Active email address, Mobile number, and Details of income sources.
Choose a method: File online through Iris Portal (individuals) or visit your Regional Tax Office (individuals and AOP/companies).
Register on the Iris Portal: Create an account and submit the required documents.
Complete the registration form: Provide income details and choose tax regime (optional for individuals).
Receive your NTN: Upon verification, you’ll receive your National Tax Number (NTN).
File Tax Return: File your annual income tax return within the due date (December 31st).

Sales Tax Registration in Pakistan:

Check your eligibility: Register if your annual turnover exceeds Rs. 3 million.
Create an Iris Portal account: Same as income tax registration.
Submit application: Fill and submit the sales tax registration form through the portal.
Biometric verification: Visit the e-Sahulat Center within 30 days for fingerprint verification.
Receive STRN: Upon verification, you’ll receive your Sales Tax Registration Number (STRN).
File Sales Tax Return: File your monthly/quarterly returns within due dates.

Who Should Register for Sales Tax in Pakistan?

Tier-1 Retailers

Commercial Exporters

Benefits of Becoming a Tax Filer in Pakistan

Taxpayers enjoy favorable conditions compared to non-filers across various financial aspects in Pakistan. There are several benefits of income and sales tax registration in Pakistan, including the following:

Withholding tax for taxpayers is half that of non-filers.
Tax-filing individuals can own property exceeding PKR 50 lakh, while non-filers face limitations.
Importers who are non-filers bear an 8% duty on total imports, whereas taxpayers pay a reduced 5.5% on raw material imports.
Non-filer exporters must pay a mandatory 9% duty on commercial exports, whereas taxpayers are subject to a lower 6% duty.
Dividends for non-filers incur a 20% tax, contrasting with the 15% rate for tax filers.
In banking profits and savings schemes, non-filers pay a 15% tax, while taxpayers pay a reduced 10%.
Prize money received through prize bonds is taxed at 15% for tax filers, whereas non-filers face a higher rate of 25%.
Property transfer tax is set at 1% for tax filers and 2% for non-filers.
In auctions, tax filers are subject to a 10% tax, whereas non-filers bear a higher 15% tax rate in Pakistan.

Frequently Asked Questions

How can I register for tax in Pakistan?

You can register for tax in Pakistan by submitting the required documentation and information through the official online portal of the Federal Board of Revenue (FBR).

Who is eligible for sales tax registration in Pakistan?

Businesses engaged in the sale of taxable goods or services, meeting specified turnover thresholds, are generally eligible for sales tax registration in Pakistan.

What is the tax registration number in Pakistan?

The Tax Registration Number (TRN) is a unique identification number assigned to individuals and businesses upon successful registration for tax purposes in Pakistan.

What is the difference between NTN and STRN?

The National Tax Number (NTN) is a unique identification number assigned for income tax purposes, while the Sales Tax Registration Number (STRN) is specific to sales tax registration. NTN is issued by the FBR, and STRN is issued by the Federal Board of Revenue for sales tax purposes.