Federal Board of Revenue (FBR) will exempt retailers/shopkeepers from tax audits and scrap sales tax on traders with an annual turnover of up to Rs. 100 million, high-level sources told ProPakistani.
A time-sensitive meeting between FBR and representatives from the business community is set for today at 3:00 PM. Sources said following the meeting, significant amendments to the Tajir Dost Scheme will be announced.
The amendments include empowering merchants’ representatives to determine retailer taxes and conferring the powers of the FBR Board onto Commissioners.
The amendments will also include provisions to exempt small businessmen from tax audits, with a draft of this exemption already prepared. Sources added that the revision of the income tax table under the scheme is very likely, along with the possible introduction of a tax return form in plain Urdu, making it more accessible to traders.
This comes after FBR first asked the traders’ community to have a detailed meeting on August 27 (today) before taking any extreme measure of a shutter-down strike on August 28 in protest against the “trader-friendly scheme”.
This was expected. There is no need to tax these poor millionaire traders. You and I, the poor common man and the salaried class are sufficient to pay the tax for traders in addition to our own (just like 20% of the country’s population pay electricity bills for the 100% of the country).
The formula is simple. The mob rules this country. If you have the power to come on the roads, you can get everything done with the power of ‘danda’. The rest? Continue suffering.
Sir first calculate the expenditure of a trader and the bribe he has to give to the so called government employees of different institutions. Then u will find out that a trader pays more than double the amount than what the govt is asking
People only see one side of the story.
No issue, charge the differential to salaried class
They are not poor and this is a very dangerous and wrong step to exempt them from audit. Actually they are the ones that should be audited by FBR staff.