Tax Registration Requirements for Businesses

Tax Registration Requirements

1. Neophar Healthcare Pakistan (PVT) LTD.

• Nature of Business: Manufacturer
• Status: Private Limited Company (PVT)
• Sales Tax Status: Registered

Tax Registration Requirements:

• Income Tax (FBR): Yes (Section 81, 114, 181 of the Income Tax Ordinance, 2001).
• Sales Tax (FBR): Yes (Section 2(17), 14 of the Sales Tax Act, 1990).
• PRA Sales Tax: No (Not applicable as a manufacturer of goods).

Tax Applicability:

• GST on Sales: 18% (Section 3 of the Sales Tax Act, 1990).
• GST on Purchases (Input Tax): Yes (Section 7 of the Sales Tax Act, 1990).
• Income Tax: Company Rates (First Schedule, Part I, Division II of the Income Tax Ordinance, 2001).

2. Elaf Healthcare

• Nature of Business: Marketing Company
• Status: Association of Persons (AOP)
• Sales Tax Status: Not Registered

Tax Registration Requirements:

• Income Tax (FBR): Yes (Section 80, 114 of the Income Tax Ordinance, 2001).
• Sales Tax (FBR): No (Not applicable as a service provider).
• PRA Sales Tax: Yes (Section 9, Second Schedule of the Punjab Sales Tax on Services Act, 2012).

Tax Applicability:

• GST on Sales: 16% (Second Schedule of the Punjab Sales Tax on Services Act, 2012).
• GST on Purchases (Input Tax): Yes (Section 16 of the Punjab Sales Tax on Services Act, 2012).
• Income Tax: AOP Rates (First Schedule, Part I, Division I of the Income Tax Ordinance, 2001).

3. Elaf International

• Nature of Business: Manufacturer
• Status: Association of Persons (AOP)
• Sales Tax Status: Not Registered

Tax Registration Requirements:

• Income Tax (FBR): Yes (Section 80, 114 of the Income Tax Ordinance, 2001).
• Sales Tax (FBR): Yes (if turnover > Rs. 8M) (Section 14, 2(5AB) of the Sales Tax Act, 1990).
• PRA Sales Tax: No (Not applicable as a manufacturer).

Tax Applicability:

• GST on Sales: 18% (if registered) (Section 3 of the Sales Tax Act, 1990).
• GST on Purchases (Input Tax): Yes (if registered) (Section 7 of the Sales Tax Act, 1990).
• Income Tax: AOP Rates (First Schedule, Part I, Division I of the Income Tax Ordinance, 2001).

4. Neophar Skin Sciences

• Nature of Business: E-Commerce
• Status: Not specified (Assuming AOP for this analysis)
• Sales Tax Status: Not Registered

Tax Registration Requirements:

• Income Tax (FBR): Yes (Section 181 of the Income Tax Ordinance, 2001).
• Sales Tax (FBR): Yes (Section 2(33A), 9A of the Sales Tax Act, 1990).
• PRA Sales Tax: Yes (Section 9, Second Schedule of the Punjab Sales Tax on Services Act, 2012).

Tax Applicability:

• GST on Sales: Applicable FBR/PRA rates.
• GST on Purchases (Input Tax): Yes (Section 7 of the Sales Tax Act, 1990, and Section 16 of the Punjab Sales Tax on Services Act, 2012).
• Income Tax: AOP/Company Rates (First Schedule of the Income Tax Ordinance, 2001).