Who Should Register for VAT/Sales Tax in Pakistan
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All businesses and suppliers of taxable goods must register for Pakistani sales tax via FBR’s online portal. Generally, tax registration will also require an in-person meeting. In order to process the application, you will be asked to provide the following:
● Business name
● Business address
● Business bank accounts
● Tax identification business directors
● Passports of business directors
Any Pakistani business that fails to register for sales tax may be fined. Since there is no threshold for businesses required to register for sales tax, most businesses will have to register with BIR. Although the registration threshold is nil, businesses with low business turnover may be eligible for a simplified sales tax scheme. Sales tax is due in Pakistan at the time of supply or at the time of payment.
Vat Invoice Meaning
Businesses registering with FBR for sales tax will receive a Sales Tax Registration Number (STRN) or User ID and password that will be used in all electronic filing for sales tax returns. Unlike many countries, non-resident businesses operating in Pakistan may not register for sales tax, regardless of turnover.