Govt to implement new tax scheme for traders

The govt had earlier withdrawn the fixed tax on retailers through an ordinance

ISLAMABAD: The Federal Board of Revenue (FBR) will plan and implement a new tax scheme in consultation with traders from all over the country, it emerged on Thursday.

According to the details, chairman FBR held a detailed meeting with the representatives of traders from all across the country at the FBR House here in the federal capital. A total of 21 representatives of Markazi Tanzeem-e-Tajiraan Pakistan attended the meeting while a few participants joined through a video link. 

It may be recalled that the government had withdrawn the fixed tax on retailers through a recently promulgated ordinance. 

The chairman FBR invited proposals regarding the features of the proposed tax scheme that will serve the purpose of facilitating filing of income tax returns as well as ensuring revenue for the country. 

The traders appreciated the initiative of active consultative approach taken by the FBR and put forth various suggestions on the issue.

Earlier on August 25, a meeting with the representatives of traders from all across Pakistan was also held by the FBR in Islamabad. 

The financial watchdog resolved to keep follow-up meetings at the FBR headquarters and also at the regional level so that, through  consultation and consensus, a feasible and workable scheme of taxation for retailers & traders is evolved. 

The traders were requested to make in-house deliberations amongst themselves and firm up their suggestions for the future tax scheme to be rolled out next month.

The next round of meetings will be held with the traders’ bodies next week.

 

 

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