FBR Struggles, retailers yet to agree on tax collection strategy

Pakistan, September 4, 2024: The Federal Board of Revenue (FBR) struggles to reach a compromise with the traders’ union. It addressed and agreed to all the major demands of Anjuman-e-Tajiraan to review the valuation table for fixing the monthly advance tax to be collected from retailers.

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President Anjuman-eTajraan, Mr Ajmal Baloch, headed the traders’ delegation. He met the chairman and his teams in the FBR House. The authorities informed the traders that there would be no “Tajir Dost Scheme exemption.” They further emphasized that traders have to register and pay the due tax amount.

The monthly amount payable is negotiable, but traders must pay the due tax liabilities. Moreover, the FBR will allow the traders union to voluntarily decide about the exemption, fixing tax rates depending on the business size.

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Stay connected with RBS for more updates on tax reforms by FBR.