ISLAMABAD: The new applicants excluding manufacturers, seeking sales tax registrations, would also be required to submit balance sheets indicating their amount of business capital.
The Federal Board of Revenue (FBR) Tuesday issued updated Sales Tax Rules upto January 2025.
According to the updated rules, the applicant having NTN or income tax registration shall, using his login credentials, upload following information and documents: in the case of an individual, association of persons and a company having only one shareholder or member, other than manufacturer, a balance sheet indicating the amount of business capital.
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About the assets and liabilities, the rules said that where an individual, an association of persons and a company having only one shareholder or member, other than manufacturer, already registered, do not fulfil the requirement of the electronic filing of return shall only be allowed with prior authorization of the Commissioner through IRIS.
Other documents to be submitted included bank account certificate issued by the bank in the name of the business; registration or consumer number with the gas and electricity supplier and particulars of all branches in case of multiple branches at various locations; in case of manufacturer, also the GPS-tagged photographs of machinery and industrial electricity or gas meter installed.
On furnishing above documents, the system shall register the applicant for sales tax.
Provided that in the case of an individual, an association of persons, and a company having only one shareholder or member, as the case may be, the IRIS shall register such persons only after the LRO is satisfied that the requirements of this rule has been uploaded in IRIS, and the LRO has approved the application through an order in IRIS.
After registration, authorized person shall visit e-Sahulat Centre of NADRA within a month for bio-metric verification. In case of failure to visit or failure of verification, the registered person’s name shall be taken off the sales tax Active Taxpayer List.
Every individual, any member of an association of persons, and a director of a company having only one shareholder or member, as the case may be, shall visit e-Sahulat Centre of NADRA during the month of July every year, for bio-metric re-verification, and in case of failure to do so, the electronic filing of return shall only be made with prior authorization of the Commissioner through IRIS.
Copyright Business Recorder, 2025
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