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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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Honours From The Families Of The Martyrs: September 1965’s Heroes Are Recalled

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Pakistan marks the anniversary of the day the Pakistani Army defeated an enemy attack and won a major victory on September 6. On this day of defence, the families of the war martyrs from 1965 offered their opinions:

The soldiers’ actions in demolishing enemy tanks with explosives and their bravery in the dark were commended by Shaheed Sepoy Muhammad Haleem’s brother. He gave the 1965 martyrs his respects.

The significance of Defence Day is remembered for the martyrs, as stressed by Shaheed Sepoy Shahid Ahmed’s uncle. The brother of Shaheed Sepoy Aftab Hussain offered gratitude to everyone who has given their life in defence of the nation.

In addition to emphasising the value of encouraging rather than criticising the troops, Shaheed Sepoy Wazir Ahmed’s brother praised the soldiers for foiling the enemy’s schemes.

Javed Ahmed, Shaheed Lance Naik’s cousin, emphasised September 6th’s significance as a day of victory.

In addition to expressing support for the Pakistani Army today, the brother of Shaheed Havaldar Shafiq reiterated their dedication to remembering the dead of September 6, 1965.

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The Finance Minister has pledged to attract foreign investments by creating an environment that is friendly to business.

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In a recent statement, Pakistan’s Minister of Finance Muhammad Aurangzeb reaffirmed the country’s unwavering dedication to luring international investments by preserving an atmosphere that is commercially encouraging.

A group of international investors, led by Amin Mohammad Khowaja, the Chief Executive Officer of J.P. Morgan Pakistan, had visited him in Islamabad. He was speaking with them.

Muhammad Aurangzeb also provided further information regarding the ambitious structural reforms program of the government. This agenda aims to strengthen the general macroeconomic stability by widening the tax base, rightsizing the public sector, promoting privatization, and reforming the energy sector.

The Minister of Finance emphasized the great achievements that Pakistan has made in strengthening its macroeconomic indicators, such as the increase in exports by 14 percent, the decrease in inflation to 9.6 percent, which is the lowest level in 34 months, and an overall decrease in the current account deficit among Pakistan’s economic indicators.

It was also brought to his attention that Pakistan’s sovereign credit ratings had improved, which is indicative of a stable and encouraging economic future. According to him, the rigorous fiscal discipline, inflation management, and favorable balance of payments that the country has are the pillars upon which the country’s economic prosperity.

In addition to expressing confidence regarding the potential for larger investment flows into Pakistan, the delegation praised the efforts that the government has made to establish an atmosphere that is conducive to business.

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Journalists require training. Media professionals who have received training can serve as ambassadors. Tarar

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According to Information Minister Atta Ullah Tarar, journalists must possess sufficient skills in order to serve as ambassadors for the country, particularly in the digital realm, to foster unity among people. This is a pressing requirement at present.

During an event in Islamabad focused on journalist training, Atta Ullah Tarrar, the Minister responsible for combating misinformation, stated his official role.

The Information Minister emphasized the indispensability of technology for achieving prosperity, and in line with this, the Government has implemented Pakistan’s inaugural digital land registry system.

Tarar stated that we have the privilege of initiating Pakistan’s inaugural safe city project.

Regarding verification and authentication, the Information Minister lamented the lack of a method to validate information.

According to the Information Minister, terrorist organizations are utilizing social media platforms. Additionally, the minister highlighted that the country’s economy is delicate, and the dissemination of a single false news item might result in significant economic losses for the nation.

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