Chamber of Commerce Pushes for NTN Inclusion in Budget

The Chamber of Commerce has proposed a significant recommendation to the government for the upcoming budget of the fiscal year 2024-25. They have suggested the inclusion of National Tax Number (NTN) in the list of recommendations to be presented to the government. This move aims to streamline tax compliance and ensure a more transparent financial system. Additionally, the chamber has recommended making NTN compulsory for individuals planning overseas travel and those joining clubs.

NTN is a unique identification number assigned to taxpayers in Pakistan. By making it mandatory for overseas travel and club memberships, the chamber believes that it will help in tracking financial transactions and preventing tax evasion. This step could also encourage more individuals to register for NTN and contribute to the country's tax revenue.

The chamber's recommendations regarding NTN in the budget suggestions and its compulsory requirement for overseas travel and club memberships could have a significant impact on tax compliance and financial transparency in the country. It is essential for individuals to be aware of these proposed changes and understand the importance of complying with tax regulations for the overall economic development of Pakistan.