Islamabad: The Federal Board of Revenue (FBR) has extended the Tajir Dost Scheme to 42 cities, including Faisalabad and Sialkot, as part of a significant drive to register 3.2 million shopkeepers and dealers, as reported on July 10. Nearly 46,000 merchants and store owners have reportedly already registered for this program, according to the sources. Previously excluded, Faisalabad is now added.
The business community decided to broaden the scheme’s scope before imposing any extra taxes on merchants during a recent video conference involving the FBR Chairman, Regional Tax Offices, and traders. Under the Tajir Dost Scheme, the registration procedure will now start in practically all major and minor cities, including Multan, Mardan, Sukkur, Sahiwal, Sargodha, DG Khan, and Gujrat, with a finalization date of July 15,
The FBR is anticipated to release a draft notification soon about the suggested tables of indicative income based on commercial property valuation tables. Every city’s traders will be able to provide feedback on the proposed SROs.The majority of traders threatened to go on strike during the meeting when they rejected the FBR’s suggested tax plan based on property values. Retailers struggled to come up with a different taxation model, and a standoff resulted.
“Trader representatives made threats during the online meeting, and there was also a heated exchange of words regarding tax payment between the traders and tax officials,” sources claimed. Chief Coordinator of the Tajir Dost Scheme-2024, Muhammad Naeem Mir, stepped in and offered two solutions.
1.First, he recommended a streamlined tax return form for traders, which would come with a one-time PKR 1,200 registration charge. Tier-II retailers would submit the streamlined return form, pay turnover tax, and self-evaluate their turnover. The FBR, however, turned down this idea, stating that the notification had to be sent out by July 15.
2.Second, Mir suggested that the FBR establish indicative values of commercial properties in collaboration with merchants and field offices, rather than issuing any SRO right now. He underlined how crucial it is to send out notices in coordination with trading representatives.
