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The FBR was established as the Central Board of Revenue (CBR) in 1924. It was restructured into FBR in 2007 through the Federal Board of Revenue Act. The introduction of digital systems, including the IRIS Portal in 2015, modernized tax registration and compliance procedures, making them more accessible and efficient.
The Federal Board of Revenue (FBR) is the primary federal authority responsible for tax collection, enforcement, and administration. Registration with FBR is mandatory for individuals, businesses, and companies intending to operate legally in Pakistan. It includes registering for Income Tax and Sales Tax, depending on the nature of activities.
National Tax Number (NTN): The NTN is issued to individuals and entities for identification within the tax system. Essential for opening business bank accounts, engaging in government tenders, and conducting large-scale financial transactions.
Sales Tax Registration Number (STRN): Issued to businesses involved in the supply of taxable goods or services.
Required for charging, collecting, and depositing sales tax to the government.
Legal Compliance: Mandatory for availing benefits such as tax refunds and reduced withholding tax rates. Ensures businesses operate within the legal framework, protecting them from penalties and blacklisting.
Streamlined Operations: Facilitates seamless transactions between businesses and regulatory bodies. Necessary for filing returns and fulfilling other tax obligations.
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Adeel Law Chamber a Law Firm specialized in Taxation laws, established in 2004 having multiple discipline clients consisting of offshore and domestic business entities, Non-Profit Organizations, and individuals from different sectors of the economy.
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