ISLAMABAD (May 02 2003) : The Central Board of Revenue (CBR) has made it compulsory for the non-resident companies to furnish SECP certificates for issuance of National tax Number (NTN).
All non-resident companies would have to mention their registration/incorporation number on the NTN application form along with the attested copy of registration certificate.
For allocation of NTN to the resident/non-resident directors of these companies, the foreign directors of the non-resident companies would provide copies of passports and resident directors have to provide their NTNs to get new national tax numbers.
The CBR has issued procedure for issuance of NTN to non-resident companies in consultation with the Securities and Exchange Commission of Pakistan (SECP).
Tax authorities directed all Regional Commissioners of Income Tax (RCITs) to ensure fulfilment of the above-mentioned conditions by foreign companies operating in Pakistan.
Official sources told Business Recorder here on Thursday that the matter relating to issuance of NTN to non-resident companies and their directors has been discussed in the Board.
In this regard, the CBR sought information from the SECP to ascertain the registration status of non-resident companies.
The corporate watchdog informed the CBR that it is necessary for every non-resident company, which establishes its office in Pakistan, to get registered with the SECP.
Keeping this in view, the tax authorities have decided that every non-resident company would specify in the NTN application form its registration/incorporation number along with duly attested copy of registration certificate.
The resident directors of such companies would give their NTN and in case of non-resident director the passport number, along with its copies, would be filed, the CBR added.