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FBR decides to tax retailers of five big cities

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  • In first phase, retailers to be taxed in the four provincial capitals.
  • Tax to be imposed on businesspersons associated with any sector.
  • Tax collection authority has prepared a scheme for taxing retailers. 

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to impose a tax on retailers in five big cities of the country including Karachi, Islamabad, Lahore, Peshawar, and Quetta, Geo News reported, citing sources on Thursday.

The sources said Rs100 billion in revenue would be generated through imposing a tax on 3.5 million retailers in those cities and for that purpose, the board had prepared a scheme.

“In the first phase, retailers will be taxed in the four provincial capitals and the federal capital,” they said.

They said the taxation would be based on the size of the shop and the volume of its annual income and it would be collected every month.

The sources said the scheme was completely ready and they would launch it upon getting the green light from the government. 

At least 10% advance tax would be charged on retailers’ annual income, they said adding that under the scheme the tax would be imposed on businesspersons associated with any sector.

The News reported last month that after the International Monetary Fund’s (IMF) rejection of introducing any fixed scheme for retailers, the caretaker government had finalised the ‘Tax Asaan Application’ for collecting tax from small shopkeepers based on the valuation of each shop determined by the FBR.

Official sources had confirmed that the retailers’ scheme was almost finalised and now the caretaker government would grant permission to launch this scheme before the completion of its stipulated timeframe.

In the past, every scheme to bring millions of retailers into the tax net met with failure.

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According to Defense Minister Khawaja Muhammad Asif, accusations made against Pakistan by Bushra Bibi, the spouse of the PTI founder, are vile and disgusting because Pakistan has historical relations to the Kingdom of Saudi Arabia.

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The defense minister stated at a press conference in Islamabad that the Kingdom should not be involved in politics for selfish reasons because of our historical, religious, and economic ties with Saudi Arabia.

2.8 million Pakistanis work in Saudi Arabia and send millions of dollars in remittances, he added, adding that making unfounded accusations against the country will hurt Pakistan’s economy.

According to him, Saudi Arabia has always stood by Pakistan throughout its most trying moments, and Pakistanis have a deep affection and connection to the Kingdom.

There is a breach among PTI ranks and files, and Khawaja Asif stated that we have never witnessed such a low point in politics.

Given the gravity of the accusation, the Minister said, former Army Chief Gen. Qamar Javed Bajwa should respond right away.

The Khyber Pakhtunkhwa government should fight terrorism rather than target the city, he said, adding that the PTI’s demand for a demonstration on November 24 is the third strike on the federal capital.

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The Interior Ministry prohibits KP from using government machinery for PTI protests.

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Khyber Pakhtunkhwa is not allowed to use the resources of the Provincial Government for a party protest, according to the Interior Ministry.

On November 24, the PTI has scheduled a protest, and Chief Minister Khyber Pakhtunkhwa Ali Amin Gandapur has declared his intention to participate.

The Federal Government arrested a number of Provincial Government officials who were ordered to participate in the violent protest in Islamabad by the PTI, and confiscated vehicles used by the KP Government against the state during the previous protest in October.

However, the Jinnah Supermarket Traders Union has petitioned the Islamabad High Court to halt the PTI demonstration in the capital and deem it unlawful.

In the petition, the head of the Traders Union has asked the court to rule that the PTI protest violates fundamental human rights by preventing companies from operating and removing the public’s ability to visit stores for necessities.

The petition asked the high court to protect the capital’s workers and PTI founder from unlawful protests.

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Planning Minister: The Nation Is Back on Track for Development

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Ahsan Iqbal, the Federal Minister for Planning and Development, asserts that the country’s youth are its future and that Pakistan has made great strides over the past 77 years, becoming the sixth nuclear state in the world today.

Speaking at a ceremony in Islamabad, Federal Minister for Planning Ahsan Iqbal stated that inconsistent policies have an impact on the development process.

According to Ahsan Iqbal, the CPEC got Pakistan on its path to growth, and the government is currently moving on with phase two of the project.

The country was in danger of defaulting, but the government has put it back on course, he said.

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