| Islamabad: The traders’ community demand to the Federal Board of Revenue (FBR), calling for a substantial reduction in the monthly fixed tax from the existing PKR 30,000-60,000 to a maximum of PKR 5,000 for all shops, regardless of their location in markets or plazas, as reported on September 6.
Read: FBR, Traders to discuss reservations on Tajir Dost scheme
According to sources, trader representatives have proposed that the FBR collect a maximum of PKR 15,000 per quarter from each trader. They emphasised that the fixed monthly tax should range between PKR 1,000 and PKR 5,000, but should not exceed the upper limit of PKR 5,000. In response, the FBR has asked traders to present alternative solutions to the valuation table for advance tax. However, sources acknowledge that reducing the monthly fixed tax from PKR 60,000 to PKR 5,000 seems impractical, though the FBR is expected to find a compromise to resolve the issue.
Speaking at the FBR House, Naeem Mir, Chief Coordinator of the Tajir Dost Scheme, highlighted the challenges in collecting taxes from the wholesale and retail sectors. He pointed out that traders have benefited from unofficial tax amnesties over the last 77 years, but the government is now serious about ensuring proper tax collection from this sector.
Read: Tajir Dost Scheme: FBR simplifies tax return forms for traders
Mir stated that the longstanding culture of tax evasion must end, as the state cannot increase its fiscal resources without collecting due taxes from traders. He further noted that attempts by a political party to politicize the Tajir Dost Scheme would not succeed, as negotiations between the FBR and traders are ongoing, with both sides expected to reach a consensus soon.
Additionally, Mir urged non-filer traders to register through the Asaan Tax return form, stressing that participation in the tax system is crucial for future fiscal stability. |
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