NTN (National Tax Number) stands for National Tax Number, which is a unique identification number assigned by the Federal Board of Revenue (FBR) to taxpayers in Pakistan. The NTN is used to identify taxpayers, including individuals, sole proprietors, partnerships, and companies, for tax purposes.
The NTN is required for various transactions, such as opening a bank account, buying or selling property, and filing tax returns. To obtain an NTN, taxpayers must register with the FBR and provide information about their income, assets, and liabilities.
The NTN is a 7-digit number, with the first 5 digits representing the unique identification number and the last 2 digits representing the check digits to ensure the accuracy of the number. The NTN is used to track tax payments, tax refunds, and other tax-related transactions.
It is important for taxpayers to obtain an NTN and maintain accurate records of their income and tax payments to comply with tax laws and avoid penalties and legal consequences.
Income Tax Return Filing (AOPs, Partnership Firm)
Income Tax Return Filing (Pvt. Ltd. Company)
Income Tax Return Filing (Salaried Person)
Income Tax Return Filing (Teacher)
Benefits of NTN
There are several benefits of obtaining an NTN (National Tax Number) in Pakistan. Some of the key benefits are:
- Tax Compliance: Obtaining an NTN is mandatory for all taxpayers in Pakistan. By obtaining an NTN, taxpayers can comply with tax laws and regulations and avoid penalties and legal consequences.
- Filing Tax Returns: The NTN is required for filing tax returns in Pakistan. Taxpayers who file tax returns on time can claim tax refunds and tax credits, which can reduce their tax liability.
- Opening Bank Accounts: Many banks in Pakistan require an NTN for opening bank accounts, particularly for businesses. Having an NTN can help businesses access banking services and finance.
- Business Transactions: The NTN is required for various business transactions, such as buying or selling property, importing or exporting goods, and participating in government tenders.
- Reputation: Having an NTN can enhance the reputation of individuals and businesses, as it indicates that they are compliant with tax laws and regulations.
- Access to Government Services: The NTN is required for accessing various government services, such as obtaining a passport or a driving license.
In summary, obtaining an NTN in Pakistan is essential for compliance with tax laws and regulations and for accessing various services and opportunities.
NTN Salaried Person Business Partnership/AOPs Non-Profit Organization (NPO) Pvt Ltd. Co.
IPO Patent Registration Trademark Registration Copyright Registration
Income Tax SROs Sales Tax SROs
Types of NTN
In Pakistan, there are three types of NTN (National Tax Number) based on the taxpayer’s status:
- Individual NTN: This type of NTN is assigned to individual taxpayers, such as employees, self-employed professionals, and sole proprietors.
- AOP NTN: This type of NTN is assigned to Association of Persons (AOPs), which are groups of two or more individuals who come together for a common purpose, such as a partnership or a joint venture.
- Company NTN: This type of NTN is assigned to companies, including public limited companies, private limited companies, and foreign companies.
Each type of NTN has its unique identification number and is used for tax purposes, such as filing tax returns, paying taxes, and receiving tax refunds. It is important for taxpayers to obtain the correct type of NTN based on their status to ensure compliance with tax laws and regulations.