NTN

NTN

“NTN” is the abbreviation for National Tax Number. A national tax number is often referred to as an ‘Income Tax Registration Number’ It is a unique identification number required to get registered with the government; FBR (Federal Board of Revenue) and assigned to individuals and businesses in Pakistan for tax purposes, as well as processing import/export goods. However, this 7-digit registration number is required by businesses operating as a whole and not for individuals. Individuals use their 13-digit CNIC as their National Tax Number.

Why is Company/NTN Registration required?

Every business owner requires an NTN or registration number to run their business legally. The only identity of a business in the country is his/her income tax registration number because they are not registered with any other registration or administrative authority. Their NTN is also used for opening a bank account. This helps to ensure that all companies are working within the law and that they are paying appropriate taxes and fees. Additionally, NTN registration establishes a company’s reliability and legitimacy, making it easier to do business with other organizations. Finally, registration can provide several benefits to companies, including access to government contracts, funding opportunities, and other resources that can help to support growth and success. 

Get the best NTN services for your business from Wish Law Services. We will help you register, verify and even cancel your business NTN number if required.

Who needs to apply for Company/NTN registration?

National Tax Number (NTN), is required by anyone who wants to conduct business in Pakistan. This could be individuals, businesses, or an association of persons (AOP). The NTN is a unique identification number that is used to keep track of tax payments within Pakistani tax laws. It is required for anyone planning to do business in Pakistan to obtain an NTN as soon as possible to avoid any potential legal issues or penalties.

Documents required for NTN registration

FOR SALARIED INDIVIDUALS:

  • A Copy of a valid CNIC
  • A Copy of recently paid utility
  • Latest salary pay slip
  • Contact number, residential address, and valid Email address
  • NTN, Office Address, and a valid Email address of the employer

FOR BUSINESSES

  • A copy of a valid CNIC.
  • A copy of the recently paid utility bill of the business location.
  • Business name, address, and phone number.
  • Property papers or Rental Agreement.
  • Accounting period.
  • Contact Numbers and valid Email address.
  • Nature of Business or company.
  • Date of registration.
Documents required for NTN registration

Registering a company or obtaining a National Tax Number (NTN) in Pakistan can be a bit of an inconvenience. Therefore, Wish Law Services is here to help you with your NTN registrations in all the major cities of Pakistan. We make the complex process of NTN registration easy for you.

After applying for a National Tax Number (NTN) from the Federal Board of Revenue (FBR). You will need to fill out an application form along with submitting the required documents. Once your application gets approved, you will obtain the NTN from the Federal Board of Revenue (FBR) after submitting additional necessary documents. After obtaining the NTN, register your business for sales tax and income tax with the FBR. All the hassles throughout this process will be handled by us! 

At Wish Law Services, you can get all the help from our legal experts to get your brand registered in Pakistan. No matter if you are opening, a retail store, a restaurant, or a digital agency. We can offer you our services and help you with the registration of a single member company (SMC), a private limited company (PVT), and a public limited company under company registration law in Pakistan. You can get a consultation from our IP lawyers, anytime.

Documents required for NTN registration

Once the individual or business has been registered with the FBR, the NTN holder enjoys several benefits, namely:

  • Getting an NTN registered gives your business strength.
  • The NTN holder may become a member of prominent clubs and get many advantages from that.
  • The NTN holder, business, or individual can get many advantages from the Government.
  • The NTN holder can become a member of the Chamber of Commerce and Industry and avail of its benefits.
  • The NTN holder can make contracts and assignments with foreign companies and firms, she can get agencies and foreign company offices.
  • An NTN holder can deal with import and export goods.
  • The NTN is favored for a visa abroad.

Overall, there are several financial and legal benefits to getting your company registered in Pakistan. Having an NTN or company registration also makes it much easier to open bank accounts, obtain loans, and acquire other financial services legally. This can be really helpful for small businesses or startups that have limited resources.

Why Is NTN/Company Registration recommended in Pakistan?

  • Legal registration of a business or company strengthens your brand and gives legitimacy to your business. When you register your business, it gives confidence to potential clients to recognize you as a legal organization.
  • NTN registration creates a separate financial system for your company. Your individual and enterprise finances will be considered independently after your company is incorporated. This means that unless you have personally guaranteed the debts, your assets cannot be snatched to satisfy a corporate bond, hence. You won’t be held accountable for any debts.
  • Registration of your company in Pakistan increases chances for business and funding. Once you ask for an investment as a registered business, investors are likely to take you seriously. You need to have an official business registration to qualify for a business loan.
  • NTN Registration sets you in the company and keeps you focused. Having a legal company will motivate you to dedicate your efforts and time to it. You may be proud of being a business owner since it’s no longer just a concept or recreation.
  • Registering a Company protects you from personal disadvantage since your company is now a separate legal form as a registered company. This guarantees that any constitutional matters will be kept separate from your personal life.

 

At, Wish Law Services, you can also get your trademark registration and NTN registration in Pakistan, without any hassles, regardless of where you are. Contact our representative at +92 334 0245951 or info@wishlaw.com, for further guidance through the whole process.