Fixed tax: Traders ready to pay Rs5,000 per month

ISLAMABAD: Traders’ community has placed a new demand before the Federal Board of Revenue (FBR) to reduce the monthly fixed tax from Rs30,000-60,000 per month to a maximum of monthly Rs5,000 for all kinds of shops, irrespective of location of markets/plazas.

Sources told Business Recorder that the representatives of the traders have asked the FBR to collect a maximum amount of Rs15,000 tax per quarter from each trader.

The monthly fixed tax should range between Rs1,000 to Rs5,000, but no more than Rs5,000.

Advance tax: FBR asks traders to give alternative solution to valuation table

Sources added that the demand seems to be unrealistic and impractical to reduce the amount from Rs60,000 per month to Rs5,000 per month, but the FBR will find some way to resolve the issue.

Meanwhile, Chief Coordinator Tajir Dost Scheme Naeem Mir while speaking to the media here on Wednesday at the FBR House said collecting tax from wholesale and retail sectors is the biggest challenge.

“Traders have enjoyed unannounced amnesty and government has taken full care of them during the course of 77 years but now government is serious regarding collection of tax from them.” He expressed these views in a meeting with visiting retailers at the Central Secretariat.

“The culture of tax evasion since generations needs to change now as the fiscal resources cannot be enhanced without collecting tax from the traders,” remarked Mir, while highlighting the state of the State’s monetary resources.

He stated that a particular political party is trying to politicise the Tajir Dost Scheme but its objective would be fully thwarted as negotiations are going on between FBR and traders and consensus would soon be achieved between both the sides. He further suggested non-filer traders to get themselves registered through the Asaan Tax return form.

Copyright Business Recorder, 2024