Get VAT registration

The National Board of Revenue (NBR) has asked firms engaged in doing businesses of more than 170 products and services to get value added tax (VAT) registration irrespective of their turnover. The instruction, issued on Sunday, stated that any business engaged in manufacturing, trading and providing various services has to get a business identification number (BIN) under the VAT and Supplementary Duty Act 2012, which came into effect from this month. Following the order, firms processing milk to manufacturing chocolate, noodles, biscuits, medicine, soap and detergent, mosquito coil, plastic and leather goods, cement, rod and bricks, melamine, television, refrigerators and air conditioners will have to get BINs. The same was obligatory under the VAT Act 1991, which has been replaced by the new law, said, revenue officials.