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FBR introduces a fixed tax plan for small business owners

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he Federal Board of Revenue (FBR) has issued the framework for a fixed tax scheme for small traders, allowing owners of a single shop with an annual turnover of up to Rs200 million to benefit from the proposed regime.

According to an FBR notification, the scheme proposes a one percent tax on gross turnover, with the government expecting to generate more than Rs50 billion annually if the initiative is successfully implemented.

The FBR said the scheme will be voluntary, allowing traders to either opt for the fixed tax regime or continue filing regular income tax returns. A minimum cash tax payment of Rs25,000 will be mandatory, while owners of multiple shops will not be eligible. Tier-1 retailers, jewellers and professional service providers have also been excluded from the scheme.

The tax authority has invited objections and suggestions on the draft within seven days. Eligible traders will be able to register through the IRIS portal, the FBR mobile application or the nearest tax office. Under the proposed scheme, qualifying traders will be issued a “Green Plate.”

Under the notification, FBR officials will not enter Green Plate shops for routine tax matters. Small traders registered under the scheme will not be required to install POS machines and will also be exempt from routine tax audits.

The notification further states that participants must provide details of net profit, income from other sources and total taxes paid. They will also be required to disclose immovable property, bank balances, available cash and other assets in the prescribed form.

The FBR has also introduced a simplified one-page tax return form for small traders, requiring information including the business name, address, CNIC number, nature of business, annual sales, purchases and business expenses.

According to the FBR, audits may still be conducted in cases involving unusual business activity or significant asset purchases. The authority warned that legal action will be taken against anyone found misusing the scheme or concealing information, and said it is authorized to act on data received from third-party sources.

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AJK cabinet approves special courts for overseas Kashmiris, 2% sports budget

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The Azad Jammu and Kashmir (AJK) cabinet in its second meeting considered 19 agenda items and majority of them were accepted.

Government officials said the cabinet approved the setting up of special courts for Kashmiris abroad and earmarking two per cent of the budget for promoting sports. It also okayed the establishment of centers of excellence for gemstones to develop the sector for precious stones.

The government’s 100-day agenda is to be unveiled soon. The scheme seeks to upgrade two basic health units and one rural health center in each district.

The proposal also includes constructing up catheterisation laboratories in Bhimber, Kotli and Rawalakot and two stroke centers across Azad Kashmir.

The cabinet also approved financial aid to clear pension-related concerns of the retired personnel of the local government agencies. It also approved unification of administrative structures of State Disaster Management Authority (SDMA) and State Earthquake Reconstruction and Rehabilitation Authority (SERRA).

The government ministers also added that initiatives like Dhee Rani Program, Suthra Kashmir Program, Himmat Card, Clinic on Wheels and IT digitalisation projects would also be launched shortly.

Special focus would be paid to the promotion of tourism and enhancement of the capability of government institutions, they said.

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Ahsan Bhoon files Rs5 billion defamation suit against Captain Safdar

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Judicial Commission member Ahsan Bhoon has moved a Rs5 billion defamation complaint against Captain (retd) Muhammad Safdar before Punjab Defamation Tribunal.

The tribunal concluded that the complaint was maintainable and issued a notice to Captain Safdar, summoning him on November 11, 2026.

Bhoon, in his appeal, said that Captain Safdar made defamatory statements about his degree in law and his professional ability to practise law in television interviews and social media.

The claim says Bhoon got his law degree from the University of the Punjab and the qualification has been certified by the necessary authorities.

The petitioner claimed that the purported words had harmed his professional reputation and ruined his decades-long legal career.

Bhoon has sought direction from the tribunal for Captain Safdar to pay Rs1 billion as general damages, Rs2 billion as special damages and Rs2 billion as punitive damages, aggregating to Rs5 billion.

He has also sought an order requiring Captain Safdar to withdraw the purported utterances, make an unreserved apologies and not make similar statements in future.

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Earthquake of 4.4 magnitude jolts Sindh, no samage reported

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An earthquake measuring 4.4 on the Richter scale rocked areas of Sindh Monday morning, creating panic among the locals. There were no immediate reports of casualties or damage.

The Seismological Center said the quake occurred at 10:46am at a depth of 16 km. Its epicentre was 61km southwest of Sehwan.

The quake was located at 25.97 degrees north latitude and 67.52 degrees east longitude.

The earthquakes created concern among individuals but there were no immediate reports of loss of life or property.

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