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FBR inducts 6,484 companies through One-Window Facility

FBR inducts 6,484 companies through One-Window Facility

ISLAMABAD: Federal Board of Revenue (FBR) inducted at least 6,484 companies through the introduction of One-Window Facility launched earlier this year, it is learnt here.

According to official source, the facility launched in March, 2018 by the FBR in collaboration with Security Exchange Commission of Pakistan (SECP) to provide ease of doing business and enabling the companies to be incorporated with SECP to get registered with FBR automatically.

Source further added that One-Window Facility initiative is not only to facilitate the taxpayer but also a part of Doing Business Reforms agenda.

Meanwhile, once a company is incorporated with SECP, the credentials of incorporated company and its directors are automatically sent to FBR’s system which verifies the data and allots National Tax Number (NTN) to the company. It also registers the directors of the company. A confirmation message having login credentials is sent from FBR to SECP as well as Principal Officer of the company and its directors.

It is important to mention here that FBR launched Doing Business Reform drives in order to facilitate the businessmen and ease of doing business.

Restaurant Invoice Management System (RIMS), Predictive Analytics, Data Science initiatives, Simplified Income Tax Return for Salaried individuals, Online Verification of Import General Manifest and Online System for Export General Manifest are facilities that have also been launched.