ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), through a circular, has given National Tax Number (NTN) exemption for a period of two years to all small companies.
In this regard, the SECP has issued a circular (number 35 of 2016) after the promulgation of the Companies Ordinance, 2016 regarding exemption from NTN requirement under the Companies Ordinance, 2016.
The SECP said that the Companies Ordinance, 2016 (“the Ordinance”) was promulgated on November 11, 2016.
The provisions of section 153 (h) of the Ordinance provides that a person shall not be eligible for appointment as a director of a company, if he does not hold a National Tax Number as per the provisions of the Income Tax Ordinance, 2001.
