This blog is written by Mr. Rizwan Abbas, Senior Associate Taxation and Corporate Services. Please read this blog and provide your comments.
Benefit of the NTN (National Tax Number)
Whoever gives the income to the Government, he/she has to register himself/herself with the FBR (Federal Board of Revenue) and get the National Tax Number (NTN). A person having NTN have the following advantages:
- When any person gets the NTN, he/she become the assessee and have to file the annual Income Tax Return before the Income Tax Department.
- If he NTN holder is businessman, his business become more favorable and he/she can get many business benefits and NTN give strength to the business.
- The people have full confidence over the NTN holder business and prefer to do business with that person or company.
- It is the symbol of the patriotism that NTN holder is true person and loyal with the country and honestly pay the tax to the Government.
- The NTN holder can become the members of the many good clubs and get many advantages of the different clubs.
- The NTN holder and income tax Payer can get many advantages from the Government about his business and individual too.
- The income tax payer can get Government contracts and can participate in the auctions and make contracts with the government of the country.
- The income tax payer can become the member of chamber of commerce and Industry and avail the benefit of the chamber of commerce and Industry.
- The income tax payer can make contracts and assignment with the foreign companies and firms, he can get agencies and foreign company liaison office.
- The income tax payer is preferred for the visa of the abroad.
- In the international level the income tax payer is consider as noble, honest and sincere of the country and in many case he is given relaxation and considered in positive.
- Government and the other person consider the income tax payer dutiful and honest who declare his assets with honestly and pay the tax promptly and honestly.
- If the income tax payer get public designation or become Govt. servant, nobody can raise objection and no once file disqualification on this ground.