Navigating the registration process with the Federal Board of Revenue (FBR) can be a game changer for Freelancers and Entrepreneurs in Pakistan. Here’s a step-by-step guide to ensure you’re on the right path:
- Become a Filer:
The first step is to become a registered tax filer. This sets the foundation for your legal and financial compliance. - Register Your Startup / Business:
Choose the structure that fits your needs:
I- Sole Proprietor
II- Partnership (AOP)
III- SECP Registered (Pvt) Ltd Company
- Open a Bank Account:
Open a bank account in the same business (entity) name registered with the FBR to streamline your financial and legal transactions. - Register with PRA:
If you’re operating locally in Punjab, ensure to register your business with the Punjab Revenue Authority (PRA). - Register with PSEB:
The Pakistan Software Export Board (PSEB) is essential for IT service exporters. It helps in obtaining licenses necessary for exporting IT services. - Select an International Payment Gateway:
Choose a reliable international payment gateway to facilitate bank transfers for your business. - Local Payment Gateways:
Consider local payment gateways for added flexibility and convenience. - Annual Compliance:
Meet the annual compliance requirements of both FBR and SECP to maintain good standing and avoid penalties.
For a detailed walkthrough, check out our video guide: Freelancer Guide for Registration in FBR.
