Islamabad, Aug 27: The Federal Board of Revenue (FBR) will spare retailers and shopkeepers from tax audits and remove sales tax on traders with an annual turnover of up to Rs. 100 million.
Today at 3:00 PM, FBR and representatives of the business sector are scheduled to meet in a time-sensitive manner. Significant changes to the Tajir Dost Scheme are expected to be disclosed after the conference, according to sources.
The changes include giving merchant representatives the authority to decide retailer taxes and giving Commissioners the same authority as the FBR Board.
A draft of the clause exempting small business owners from tax audits will also be included in the changes. According to sources, the income tax table under the scheme will probably be revised, and it may be possible to include a tax return form in plain Urdu to make it easier for traders to complete.
This is in response to FBR’s first request that, before taking any drastic action, such as a shutter-down strike on August 28 in protest against the “trader-friendly scheme,” the traders’ community hold a thorough meeting on August 27 (today).
