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Question From Muhammad Rizwan 17-May-2017 - 08:22 AM

Legal requirement for starting online business

Hi I am planning to start an online business, can you guide if it has any legal formalities to be met.

ANSWER

22-May-2017 09:41 AM

Hello and thanks for your query. You need to register the business you intend to start regardless of whether it is online or offline. So, for example you can register it as a partnership so you need a deed of partnership signed and registered, then you need to register it with the FBR for taxation purposes and get an NTN. Following that you need to open a bank account and you can begin. Just make sure you speak with a taxation consultant who can guide you regarding the taxes you will have to pay be it sales tax or income tax etc. Good luck!




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