The Federal Board of Revenue (FBR) has directed the Regional Tax Offices (RTOs) to set up committees at local level for cleansing of the 'NTN Master Index' to exclude dormant and inactive companies, which are untraceable or have closed their business/trading from the tax record of the FBR. In this connection, the FBR issued instructions to the Chief Commissioners of the RTOs here on Friday.
According to the FBR instructions, the 'NTN Master Index' cleansing would be prioritised and each RTO may constitute committee at local level. FBR Member Inland Revenue Khawar Khurshid Butt informed the last Chief Commissioner conference that during his visits to various LTUs/RTOs he would particularly look into the progress, the FBR directive added.
Sources told Business Recorder that out of 45,000 companies available on the record of the 'NTN Master Index', around 23,000 has filed their income tax returns. The remaining companies, which are presently untraceable or have closed their businesses, would be excluded from the 'NTN Master Index'.
A committee headed by Chief Commissioner Inland Revenue (IR) Large Taxpayer Unit (LTU) Lahore Khalid Aziz Banth is actively working on the cleansing of the 'NTN Master Index' to get rid of all irrelevant NTNs, which are not presently required to file returns. Now, it has been decided that each RTO may constitute committee at local level.
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