FinanceNews

FBR introducing new registration form for all taxpayers

ISLAMABAD (May 24 2009): The Federal Board of Revenue is introducing a new “Taxpayer Registration Form” for registration of income tax, sales tax, federal excise through a single form, simplifying registration process for business community.

The new form would be used by all categories of taxpayers including corporate taxpayers, business entities, companies as well as individuals.

Previously, corporate taxpayers and individuals had to fill separate forms for income tax registration. Now, companies, individuals, Association of Persons (AOPs) and other categories of taxpayers can use single form for both the registration of income tax as well as sales tax.

Another key feature of the new form is that the single “Taxpayer Registration Form” could be used for changes in particulars of registration and new registration. The FBR has proposed amendment in the Income Tax Rules 2002 through an SRO.403(I)/2009 issued here on Saturday.

Sources told Business Recorder that the FBR has issued the draft of the new “Taxpayer Registration Form”. The new applicants would be allowed to use this single form for registration of income tax, sales tax and federal excise. Under this form, all kinds of registrations would be done including income tax withholding agents and sales tax withholding agents.

Secondly, the requirements for submission of documents for both income tax as well a sales tax have been combined under single “Taxpayer Registration Form”. If a new applicant obtains income tax registration, he can also obtain sales tax registration number through single form.

Another unique feature of the new form is that the new taxpayer can submit the form electronically without physically going to central registration office or regional tax office. In this way, taxpayers can make online application for registration. The applicant can also monitor the status of the registration through online facility without physical interaction with the Board.

Sources said that a person applying for income tax registration would have to submit the copy of Computerised National Identity Card Number; copy of latest paid electricity bills and other documents as specified in the form. The FBR has given 15 days to all stakeholders to comment on the proposed “Taxpayer Registration Form”. The board would notify the final form incorporating viewpoint of stakeholders.

Related Articles

Back to top button
Stay up to date
Don't miss out on the latest industry news and articles
Stay up to date
Don't miss out on the latest industry news and articles
You are Subscribed!
Your subscriptions means a lot to us.
Don't miss out on the latest Industry news
You are Subscribed!