As per Lawkidunya, Here’s a step-by-step guide to the registration process for sales tax registration for foreign companies in Pakistan:
Step 1: Create an Account on Iris Portal
1. Visit the Iris portal: Go to the Federal Board of Revenue’s (FBR) Iris portal.
2. Click on “Register”: Click on the “Register” button to create a new account.
3. Fill out the registration form: Fill out the registration form with the required information, including the company’s name, email address, and password.
Step 2: Submit Application for Sales Tax Registration
1. Log in to Iris portal: Log in to the Iris portal using the credentials created in Step 1.
2. Click on “Sales Tax”: Click on the “Sales Tax” tab and select “Registration” from the drop-down menu.
3. Fill out the registration application: Fill out the sales tax registration application form (Form ST-1) with the required information, including the company’s name, address, and business activities.
4. Upload required documents: Upload the required documents, including the certificate of incorporation, memorandum and articles of association, and power of attorney.
Step 3: Pay Registration Fee
1. Pay registration fee: Pay the registration fee of PKR 5,000 (approximately USD 33) through the Iris portal or at a designated bank branch.
Step 4: Wait for Verification
1. Wait for verification: Wait for the FBR to verify the application and documents submitted.
2. Receive verification email: Receive a verification email from the FBR once the application has been verified.
Step 5: Receive Sales Tax Registration Number (STRN)
1. Receive STRN: Receive the Sales Tax Registration Number (STRN) through the Iris portal or via email.
2. Print STRN certificate: Print the STRN certificate from the Iris portal.
Post-Registration Obligations
1. File monthly returns: File monthly sales tax returns by the 15th of the following month.
2. Pay sales tax: Pay sales tax on taxable supplies.
3. Maintain records: Maintain accurate and up-to-date records.
Consult a tax professional to ensure compliance with Pakistan’s sales tax laws and regulations.