| Islamabad: Discussions between the Federal Board of Revenue (FBR) and retailers regarding a proposed tax collection scheme remain ongoing without a resolution, according to an article published on September 3.
Read: FBR eyes 1% Withholding Tax increase to counter revenue shortfall
As per the details, negotiations resumed on Monday, but no consensus was reached. The FBR suggested forming a committee with representatives from the business community to reassess the market value rate of PKR 60,000 per month for all 84 markets across the country. Retailers who can demonstrate that their income is below this threshold might see a reduction in their tax rate.
During the discussions, retailers expressed reservations about the proposed scheme and indicated they would propose an alternative approach to enhance tax collection within the retail sector.
Read: FBR targets PKR 1.196tr tax collection in Sep to align with IMF requirements
An FBR representative stated that they requested retailers to present a proposal aimed at collecting taxes up to PKR 100 billion, emphasising the importance of finding a sustainable solution. |
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