As Pakistan’s start-up culture picks up pace, it is important to consider the wide-ranging legal implications involved in setting up your business. The law requires that you, at the very least, open an account with a local bank, obtain a ‘National Tax Number’ (NTN) along with the required licenses and commit to paying taxes. Failure to follow these guidelines can prove detrimental to any business’s Legal Considerations.
A Sales Tax Number (STN) must be obtained from the FBR. An STN is a prerequisite to collecting sales tax.
Certain services may trigger professional taxes. An application must be made to the Excise and Taxation department. Which will then consider any applicable taxes on a case-by-case basis Legal Considerations.