What you need to know about FBR’s online business licensing?

The Federal Board of Revenue (FBR) has developed a method for vendors/integrated companies seeking licenses to operate online business integration.

The FBR published SRO 1845(l)2023 to update the 2002 Income Tax Rules.

So, what’s this all about?

The recent regulations issued by the FBR define a thorough procedure that sellers must follow to get licenses to operate online business operations.

The core of the problem is the licensing of the brand, model, and specifications of the Electronic Fiscal Device (EFD), which is part of a system that includes a Sale Data Controller (SDC) and at least one linked Point of Sale (POS).

During the approval procedure, companies are required to provide the licensing committee with appropriate information, equipment, and any other help required for a smooth review process, as established by the FBR.

How to register an online business in Pakistan?

Wondering how you can do online business registration in Pakistan?

Here’s a quick guide:

The first step is to sign up for the SECP’s e-services website. This quick and simple procedure will take only a few minutes of your time.

You will be given three options on the User registration page. Simply click on the appropriate link and the process will start.

After registering, you will have access to several services provided by the SECP.

After signing up, you have to fill in key details like personal details, company name, address, payment details, and articles of association.

Here’s a detailed document, explaining a step-by-step process.

Coming back to the FBR’s issuance of business licensing. this move is helpful in managing the overall system, assuring the efficient running of linked businesses, and taking fast actions to remedy any encountered issues.

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