FBR issues procedure for registration of brand name
KARACHI: The Federal Board of Revenue (FBR) on Tuesday issued a procedure for all the manufacturers of specified sectors for the registration of the brand name before selling their products.
Through the Finance Act, 2021, the licensing of brand name has been made mandatory for specified sectors under the Sales Tax Act, 1990.
According to the procedure, all the existing and new manufacturers of specified sectors are required to register their brand of each product with the FBR before selling the same in the market.
“Every manufacturer will have to submit an application to the project director (track and trace system), FBR, along with the supportive documents,” it added.
Each manufacturer is required to provide his name, trade name, Sales Tax Registration Number (STRN), National Tax Number (NTN), date and place of incorporation, names of the company’s lead directors and any other information to allow identification to take place.
The FBR said during the application process, if any information or document is found incorrect, the registration process may be suspended immediately and the manufacturer would be issued a show-cause notice to stop all the activities related to the manufacturing and sale of the rejected/not approved brand.
“No manufacturer shall be allowed to sell their products in the market without having their brand registered with the FBR. However, they may be allowed to sell their products from the date of application’s submission,” it said.
The revenue board has warned that if any unregistered brand’s product is found in the market, the Inland Revenue Enforcement Network (IREN) would have the authority to confiscate all the available stocks in the market.
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