The person should get to register himself with Federal Board of Revenue first in order to get access of online Custom’s portal ‘WeBOC’. APPLICATION FORM FOR REGISTRATION / WeBOC USER ID ISSUANCE (To be submitted in the User ID Section of Collectorate having jurisdiction) The WeBOC form can be downloaded from: external user registration form Registration Procedure:
Submit the application to the Deputy / Assistant Collector of the BOC User-ID Section, with supporting / required documentation
Appearance of the applicant before the Deputy / Collector User Class Section ID via the original CNIC.
The process of taking a digital photo and thumbing of the applicant for his or her appearance.
Visiting business premises (wherever required)
Acceptance / Refusal of request.
User ID creation when the request is received
Login-ID Issue and Automatic Sending of Password generated by Computer to Applicant by Email.
No, the CNIC and NTN numbers are two different numbers. The CNIC is a 13-digit number that consists of the first three parts of a five-part section that gives different demographic information and the second part is his family number and the last part represents your gender group. But the NTN number is completely different this number has two digits and is 8 digits. The NTN number is generated sequentially. CNIC and NTN have been different numbers but the FBR has announced that from the 2018-18 financial year they will both be equal. The announcement to include in the CNIC as NTN figures in effect from the last fiscal year 2018 - 19, the Federal Board of Revenue (FBR) are all set to use the details of companies to extend the tax base, it is read. The Federal Board of Revenue has said NADRA has issued CNIC numbers to NTN (National Tax Number) for all Pakistanis and anyone who submits tax forms can use their CNIC instead of NTN issued by Fbr. Please check blogs for more informatio...
KARACHI: The minimum tax on turnover has been proposed to impose on non-resident companies having permanent establishment (PE) in Pakistan. The amendment in Section 113 of the Income Tax Ordinance, 2001 has been proposed through Finance Bill, 2020. According to EY Ford Rhodes Chartered Accountants the Section 113 of the Ordinance levies minimum tax on a person based on his turnover where such person is not liable to pay tax due to various reasons listed therein. However, the levy of minimum tax in case of corporate taxpayers, is only applicable on resident companies. This means that foreign companies having a permanent establishment in Pakistan (including a branch) are not subject to minimum tax. The Finance Bill 2020 has now proposed to include non-resident companies having a permanent establishment in Pakistan under the domain of minimum tax on turnover. Consequently, such companies would be required to compute minimum tax under Section 113 of the Ordinance for determina...
KARACHI: Following is the rate of capital gains tax on disposal of securities after the amendment made through Finance Act, 2020. Officials at the Federal Board of Revenue (FBR) said that the rate of capital gains tax had been kept unchanged for tax year 2021 and subsequent years. Provided that the rate of tax on cash settled derivatives traded on the stock exchange shall be 5 percent for the tax years 2018 to 2020. Provided that the rate for companies shall be as specified in Division II of Part I of First Schedule, in respective of debt securities; Provided further that a mutual fund or a collective investment scheme or a REIT scheme shall deduct Capital Gains Tax at the rates as specified below, on redemption of securities as prescribed, namely:— Category Rate Individual and association of persons 10 percent for stock funds 10 percent for other funds Company 10 percent for stock funds 25 percent for other funds Provided further that in case of a stock fund if dividen...
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