What is the difference between SECP and FBR?
| SECP | FBR | |
|---|---|---|
| Full name | Securities and Exchange Commission of Pakistan | Federal Board of Revenue |
| Main job | Registers and regulates companies | Collects federal taxes |
| You receive | Certificate of incorporation | NTN, sales tax number, filer status |
| Who registers | Companies, LLPs | All taxpayers, including companies |
Which do you register with first?
Companies: SECP first, then FBR. See FBR registration after SECP incorporation. Sole proprietors and freelancers: FBR only. See sole proprietorship registration in Pakistan and NTN registration in Pakistan.
Do you need both?
A company needs both to operate properly. SECP alone leaves you unable to file taxes, and FBR alone does not create a company.
Where to go next
Choosing a structure: business registration in Pakistan. Filing taxes: tax filing services in Pakistan.
Common mix-ups between SECP and FBR
- Believing the SECP certificate lets you invoice. You need an NTN first.
- Believing an NTN makes you a company. It does not.
- Believing sole proprietors need SECP. They do not.
- Confusing filer status, which is an FBR matter, with company status: Active Taxpayer List (ATL) check by CNIC.