NTN is an acronym that stands for "National Tax Number." The National Tax Number is a unique identification number assigned to individuals and businesses in Pakistan for the purposes of taxation.
In Pakistan, the Federal Board of Revenue (FBR) is responsible for administering tax collection and maintaining a register of taxpayers. To ensure compliance with tax regulations, individuals and businesses are required to obtain a National Tax Number from the FBR.
The NTN serves as a unique identifier for tax-related matters and is used extensively in business transactions, such as filing tax returns, claims for tax refunds, and making tax payments. It is also required for opening a bank account, obtaining licenses, and participating in government tenders.
To obtain an NTN, individuals need to register with the FBR and provide supporting documentation, such as proof of identity, address, and business registration, if applicable. The FBR then assigns a specific NTN to the individual or business, which is used in all future tax-related correspondence and transactions.
In summary, an NTN is a unique identification number assigned to individuals and businesses in Pakistan for taxation purposes. It is a crucial requirement for compliance with tax regulations and is used extensively for filing tax returns, making tax payments, and various other official transactions.
