AGL 22.90 Decreased By ▼ -1.83 (-7.4%)
AIRLINK 103.99 Decreased By ▼ -7.11 (-6.4%)
BOP 5.36 Decreased By ▼ -0.18 (-3.25%)
CNERGY 3.86 Decreased By ▼ -0.04 (-1.03%)
DCL 8.02 Decreased By ▼ -0.43 (-5.09%)
DFML 39.10 Decreased By ▼ -3.15 (-7.46%)
DGKC 86.95 Decreased By ▼ -2.65 (-2.96%)
FCCL 22.70 Decreased By ▼ -0.20 (-0.87%)
FFBL 40.59 Decreased By ▼ -1.39 (-3.31%)
FFL 8.89 Decreased By ▼ -0.15 (-1.66%)
HUBC 153.50 Decreased By ▼ -8.70 (-5.36%)
HUMNL 10.65 Decreased By ▼ -0.70 (-6.17%)
KEL 4.55 Decreased By ▼ -0.23 (-4.81%)
KOSM 3.90 Decreased By ▼ -0.16 (-3.94%)
MLCF 37.50 Decreased By ▼ -1.45 (-3.72%)
NBP 49.00 Decreased By ▼ -1.60 (-3.16%)
OGDC 134.15 Decreased By ▼ -2.96 (-2.16%)
PAEL 26.15 Decreased By ▼ -2.40 (-8.41%)
PIBTL 6.07 Decreased By ▼ -0.18 (-2.88%)
PPL 116.79 Decreased By ▼ -6.01 (-4.89%)
PRL 23.55 Decreased By ▼ -0.75 (-3.09%)
PTC 12.90 Decreased By ▼ -0.84 (-6.11%)
SEARL 57.25 Decreased By ▼ -2.80 (-4.66%)
TELE 7.45 Decreased By ▼ -0.31 (-3.99%)
TOMCL 35.74 Decreased By ▼ -3.66 (-9.29%)
TPLP 8.50 Decreased By ▼ -0.26 (-2.97%)
TREET 15.68 Decreased By ▼ -0.52 (-3.21%)
TRG 56.40 Decreased By ▼ -3.60 (-6%)
UNITY 33.40 Decreased By ▼ -1.00 (-2.91%)
WTL 1.18 Decreased By ▼ -0.04 (-3.28%)
BR100 8,433 Decreased By -274.3 (-3.15%)
BR30 26,639 Decreased By -1159 (-4.17%)
KSE100 80,118 Decreased By -1722 (-2.1%)
KSE30 25,681 Decreased By -584.1 (-2.22%)

ISLAMABAD: In a major development to register 3.2 million shopkeepers/traders, the Federal Board of Revenue (FBR) has expanded the scope of registration to 42 cities including Faisalabad and Sialkot. Sources told Business Recorder here on Tuesday that so far nearly 46,000 traders/shopkeepers have been registered with the FBR under the “Tajir Dost Scheme”. A large number of traders operate in Faisalabad, which was earlier excluded from the said scheme.

During the last video conference meeting between the FBR Chairman, Regional Tax Offices and traders, the business community has agreed to expand the scope of the scheme before implementation of any new kind of tax on traders. The registration process will now be started in 42 cities including Multan, Mardan, Sukkur, Sahiwal, Sargodha, DG Khan and Gujrat. Now, almost all big and small cities have been covered for the purpose of registration under the “Tajir Dost Scheme”. Meanwhile, the FBR will issue the draft notification on the proposed tables of indicative income on the basis of commercial properties valuation tables. The proposed tables are expected to be notified by July 15. The traders in each city will submit their comments on the draft SROs of the FBR.

During the meeting, most of the traders rejected the FBR’s scheme of payment of tax based on property values and threatened to go on strike. There was a deadlock between the FBR and traders, as the retailers were unable to give some alternate formula to the FBR for taxation of the shopkeepers. One of the proposals was to charge tax based on the categories of businesses, which was rejected by the FBR.

Tajir Dost Scheme: There should be no extra tax on registered traders: CC

“There was also an exchange of harsh words between the traders and tax officials on payment of taxes and threats by some trader’s representatives during online meeting”, sources said.

Muhammad Naeem Mir, Chief Coordinator of Tajir Dost Scheme-2024 intervened and proposed two options. Firstly, a simple tax return form for traders be notified. A simple form has been drafted for the shopkeepers. There should be a fixed fee of Rs 1200 as registration charges. The Tier-II category retailers should determine their turnover on self-assessment basis and file the simplified return form and pay turnover tax. However, the FBR rejected the proposal taking the plea that the tax authorities have to issue the notification by July 15.

The second option given by Mir was that the FBR should not immediately issue any SRO and determine indicative values of commercial properties in consultation with the traders and field offices.

The FBR should issue notifications in consultation with the traders’ representatives.

Copyright Business Recorder, 2024


Comments are closed.

Aam Aadmi Jul 10, 2024 03:19pm
Is paying tax a responsibility of every citizen or a choice? If it is responsibility, why is the government begging the traders to enroll, simply because they have the street power? Strange!
thumb_up Recommended (0)
T Jul 10, 2024 04:14pm
the government is begging for tax because it simply doesn't know why tax is paid and can't even justify how that money is spent.
thumb_up Recommended (0)
T Jul 10, 2024 04:24pm
When you ask your dost for money he no longer stays your dost, therefore don't ask your dost for money...with best regards from tajir dost
thumb_up Recommended (0)