August 7, 2003	Thursday	Jumadi-us-Sani 8, 1424

ISLAMABAD, Aug 6: The Central Board of Revenue (CBR) has notified procedures for issuance of National Tax Numbers (NTNs) to the non-resident companies (NRC).

According to the CBR circular, issued on Wednesday the NRC would be bound to get an NTN prior to make any business transaction in the country.

The decision was aimed at bringing those NRCs, who have neither any office nor any branch in Pakistan to the surface.

The Pakistan Revenue Automation Limited (PRAL) would issue NTNs to NRCs, not maintaining any office or branch in Pakistan following the receipt of all relevant information.

For getting NTNs, the application of the NRC would include name of non-resident company; address abroad with contact numbers, fax numbers and e-mail; registration/incorporation certificate of home country or any other document confirming the formation of the partnership/entity; names of director/partner and principal officer of the company/the managing partner.

The NRC would also provide the following documents: a certificate from the bank in Pakistan certifying bank account maintained with them; the commissioner of income tax with whom the applicant company would be filing the return should be mentioned and copy of the agreement of funds with the local partners in Pakistan through whom the non-resident company is operating its functions if any.