FBR launches extensive trader registration drive across Pakistan

Pakistan, July 10, 2024: The Federal Board of Revenue (FBR) is leaving no stone unturned to maximise the tax revenue across the country. A nationwide trader registration campaign is initiated to bring all the businesses into the formal economy.

FBR has turned its head toward unregistered traders aiming to reduce the informal sector’s size and increase the tax revenue. These informal sectors have been a burden on the economy for long. FBR has now planned a strategic move and will begin by targeting major hubs and marketplaces. Regardless of size, all businesses have to pay their fair amount of tax to the government.

Also Read: FBR Projects 9% Tax-To-GDP Ratio For FY 2024-25

As per FBR officials, registration camps will be set up in major hubs. Moreover, mobile registration units will be deployed to make the registration process quick and smooth. An awareness campaign has also been launched enlightening traders about the potential benefit of getting registered. The benefits include getting better business opportunities, access to formal credit channels, and getting a more level playing field.

This initiative by FBR is getting mixed reviews from traders. Some traders appreciate the FBR’s efforts to stabilize the economy whereas, small businesses are concerned about the impact it will create on their business and other potential bureaucratic hurdles.

Overall, the successful implication of this drive will result in better revenue generation which can then be used for other welfare projects. Though initially, tax application on small businesses seems to be an extensive burden, however, it will benefit the country’s economy in the longer run.

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