- NBR is registering all VAT-eligible establishments.
- This includes hotels, super shops, and shopping malls.
- February is the registration month for VAT commissioners.
- March is the registration month for NBR.
- Many establishments remain unregistered, leading to a shortfall in government VAT revenue.
- NBR is intensifying efforts to bring unregistered entities under the VAT framework.
- VAT system was introduced in 1991 but coverage has not expanded to the expected level.
- VAT registration is mandatory for businesses meeting certain annual turnover thresholds.
Source: daily-sun.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
