ISLAMABAD: Federal Board of Revenue (FBR) has issued procedure for getting National Tax Number (NTN) and registration with Securities and Exchange Commission of Pakistan (SECP) through Virtual One Stop Shop (VOSS).
The FBR and SECP have launched a one-window facility for Company incorporation and National Text Number (NTN) registration.
This facility enables companies to be registered with SECP and FBR in one go without having to visit FBR offices or its website.
For the convenience of all stakeholders, the process to be followed is outlined as under:
Step 1- Taxpayer will visit the SECP website (https://www.secp.gov.pk) and complete the company incorporation application as before;
Step 2- As soon as company is incorporated, data of the company and its directors will be forwarded to FBR through an automated web service;
Step 3- FBR system will run an auto-process to verify if all the directors registered taxpayers of FBR. If all the directors are already registered taxpayers, then process will jump to Step 6;
Step 4- If any Director(s) are not registered with FBR, system will automatically register each unregistered director on the basis of data provided by SECP;
Step 5- System will send confirmation email and SMS to each director on successful registration;
Step 6- System will automatically create FBR registration application on behalf of company, process the application and register the company within FBR;
Step 7- System will send confirmation email and SMS to company representative on successful registration;
Step 8- FBR will intimate SECP about registration of Taxpayers within FBR.
The FBR said that the process from Step-3 to Step-8 is totally system-based without any human involvement which will save time and effort of the taxpayer and improve the efficiency of the system.