The government fulfilled another promise made to the IMF. The scope of the business friendly scheme has been extended from 6 to 42 cities for which a formal notification has also been issued. A monthly advance tax of Rs 100 to Rs 1000 will be charged from registered traders.
According to the notification, the scheme Abbottabad, Attock, Bahawalnagar, Bahawalpur, Chakwal, Dera Ismail Khan, Faisalabad, Ghotki, Gujarat, Gwadar Hafizabad, Haripur, Hyderabad, Islamabad, Jhang, Jhelum, Karachi are also included in the list.
According to the notification, the scheme will also be implemented in Kasur, Khushab, Lahore, Larkana, Lasbela, Lodhran, Mandi Bahauddin, while registration will also take place in Mansehra, Mardan, Mirpurkhas, Multan, Nankana, Narowal, Peshawar.
Registration of businessman friendly scheme started today, which cities are included?
Apart from this, Quetta, Rahim Yar Khan, Rawalpindi, Sahiwal, Sargodha, Sheikhupura, Sialkot have also been included while the Trader Friendly Scheme has also been implemented in Sukkur and Toba Tek Singh.
The registered traders have to pay advance tax from 100 to 1000 rupees per month, the tax will be determined according to the fair market value of the shops, the fair market value of the shops will be determined by the FBR itself.
It should be noted that the aim of the trader-friendly scheme is to register traders outside the tax net. Under the scheme, the income record of the shopkeepers will be received by FBR from which tax will be collected according to the annual income. FBR is expected to earn Rs 100 billion from this scheme.
In the second phase, the registration of traders from other cities will be started. As a result, an annual income of 300 billion rupees is expected.
Revenue of 300 billion is expected to be collected annually from the businessman friendly scheme
Under the Trader Friendly Scheme, registration will be required for wholesalers, fruit, vegetable, meat sellers, furniture and decoration showrooms, jewellery, cosmetics, medical, hardware stores.
#Scope #businessfriendly #scheme #wide #list #cities #continues #Business #Economy
2024-07-23 16:04:00
