The National Board of Revenue (NBR) has called upon businesses to finalize the switch from their previous Business Identification Number (BIN) to the newly assigned BIN by November 30 of this year. This directive follows the restructuring of VAT Commissionerates, aimed at bolstering tax administration and enhancing services for taxpayers.
Through a recent press release, the NBR announced that it has revamped the jurisdictions of existing VAT commissionerates and introduced new ones to widen the tax base, improve revenue collection, and create a more conducive environment for businesses by offering better taxpayer services.
This initiative is part of the government’s larger administrative reform agenda to make the indirect tax system more agile, effective, and contemporary. As a result of the restructuring, businesses’ BINs have been shifted to the newly designated areas.
The NBR clarified that only the last four digits of the BIN have been modified to indicate the respective VAT commissionerate and division, while all other business details linked to the BIN remain unchanged.
To ensure uninterrupted import and export operations, both the previous and new BINs of affected businesses have been temporarily active in the customs’ ASYCUDA World system. This allows importers and exporters to carry out ongoing customs procedures, such as letters of credit (L/Cs), bills of entry, customs declarations, and other transactions using their former BINs during the transition period.
The NBR advised all concerned businesses to finalize any pending activities under their old BINs and adopt the new BINs before the specified deadline. It cautioned that post-deadline, the old BINs will be automatically deactivated in the ASYCUDA World system, necessitating the use of the new BINs for all customs-related import and export transactions.
The revenue board appealed for the cooperation of all stakeholders in ensuring uninterrupted economic activities and supporting its endeavors to establish a more agile, effective, and contemporary revenue administration.