FBR proposes new business license regime
KARACHI: The Federal Board of Revenue (FBR) has proposed certain amendments in the Income Tax Rules, 2002 pertaining to business license scheme.
According to the proposed Chapter XIIIA for the purposes of Section 181A, any person engaged in any business, profession or vocation, shall apply to the Federal Board of Revenue (FBR) for issuance of business license.
Where the applicant is having a cell phone number, issued by any mobile phone company and is having access to the internet facility, he shall file application form on the IRIS or any software application developed by Federal Board of Revenue. The system generated business license issued to the applicant shall be emailed to the applicant.
Where the applicant is not having any cell phone number issued by any mobile phone company or not having access to internet facility, he shall provide the particulars to the service provider or the personnel in a Kiosk established by a Regional Tax Office, for online filing of the form, and the service provider or the personnel in the Kiosk. Such application will be verified along with bio-metric verification of the applicant; and a system generated print out of the business license will be given to the applicant.
Where a person’s name is appearing in the active taxpayers’ list, he shall be treated to have filed application and the system generated business license shall be emailed to his email address registered in IRIS.
Every person who has been issued a business license shall display the said license at every place of business of the person.
Where a person has been issued a business license, he shall not be liable to payment of any tax on account of holding a business license.