Islamabad, Aug 28: The merchant’s community was given a clear message by the Federal Board of Revenue (FBR) on Tuesday: the Tajir Dost Scheme would be implemented regardless of the cost, and traders must register and pay all taxes owed.
FBR stated in a statement that the Tajir Dost Scheme will not be impacted by strikes or closures. The meeting on Tuesday at the FBR House was attended by none of the trade associations that had declared a shutter down strike. On Wednesday, the bodies of the dealers are scheduled to embark on a strike.
Nonetheless, associations of traders who support the government as well as a few other people joined the conference virtually. Attending the conference at the FBR were traders from Gujranwala, Lahore, Faisalabad, Multan, and Karachi.
Following the meeting with certain trade associations at the FBR Headquarters, Naeem Mir, the Chief Coordinator of the Tajir Dost Scheme, told the media that the FBR has decided to modify the program in accordance with the suggestions made by the trade associations. The plan would be modified in light of the demands of the Wednesday walkout by the community of dealers.
But the FBR Chairman has made it quite evident to the striking dealers that the initiative would not be abandoned. The plan would be put into action for traders’ registration at whatever cost. The traders must pay their fair share of taxes into the national coffers and enter the tax net.
The monthly tax payment is adjustable, though. There shouldn’t be a significant tax rate differential between shops and traders, and the monthly advance tax rate should be fair.
According to him, the FBR has also demonstrated a willingness to modify the pertinent SRO in order to satisfy the concerns of the trading sector.
The idea is to switch from a monthly tax payment system to a quarterly one. With the updated SRO, it is anticipated that the tax rate will drop even lower. The traders will receive an easy-to-complete return form in Urdu.
According to Mir, the FBR would let traders’ committees nationwide freely choose the rates, exemptions, and fixed tax payments in marketplaces and retail establishments based on their respective enterprises and store sizes. Under the revised plan, the tax rates would be jointly revised by the traders in the field formations and the Additional Commissioners IR.
The Tajir Dost Scheme Chief Coordinator continued, stating that there is no reason to proceed with a shutter-down strike in light of FBR’s pledge to modify the scheme in accordance with traders’ requests.
