ISLAMABAD, Sept 1: The Central Board of Revenue (CBR) on Thursday issued guidelines for allotting tax free numbers (TFNs) to eligible entities and departments. According to an official announcement, the TFN would be allotted to embassies and federal/provincial ministries; sub-ordinate offices of the federal, provincial ministries would use TFNs of their parent ministry/department.
However, private entities exempt under Second Schedule to the Income Tax Ordinance, 2001 would be issued a regular national tax number (NTN) and these entities would avail exemption subject to qualification prescribed under the second schedule.
While the government entities would use TFNs of their parent ministry/department and would avail exemption subject to qualification prescribed under the second schedule.
