FBR to launch new strategy for tax collection

Islamabad: Federal Bureau of Revenue (FBR) has decided to introduce a retailer scheme for traders before the upcoming general elections on February 8.

According to the details, FBR has made a ‘Tajer Dost’ application for the registration of traders through which the traders outside the tax net will be registered by this application. Through this app, the record of the income of the shopkeepers will be received by FBR.

Officials said that tax will be levied on the shopkeepers according to their annual income which will be collected monthly. This scheme is expected to generate 100 billion rupees in tax revenue from retailers in Islamabad, Karachi, Lahore, Peshawar and Quetta.

While in the second phase, the registration of traders from other cities will be started and the revenue of more than 300 billion is expected from the installation of retailers across the country.

It is to be noted that due to this scheme the tax will be imposed on businesses related to all sectors.