Aaj English TV

Wednesday, May 22, 2024  
13 Dhul-Qadah 1445  

Traders welcome registration scheme without additional burden

APAT chairman optimistic that scheme will not meet resistance

Trader representatives have endorsed a government initiative to bring them into the tax net as long as it does not burden them with more taxes.

Chairman Supreme Council All Pakistan Anjuman Tajran (APAT) Naeem Mir told Business Recorder that if market surveys are done properly and procedures are made easy, shopkeepers would not have any resistance to beingbrought into the tax net.

However, Mir said that the shopkeepers should not be burdened with additional taxes.

The chairman also said that although the government has announced its scheme, the finer points about minimum advance tax on monthly basis have still not been finalised.

A special procedure for small traders and shopkeepers to be called Tajir Dost Scheme, 2024 has been issued by the government, BR reported.

The scheme will cover places who conduct businesses from fixed places including wholesaler, dealer, retailer, manufacturer cum retailer, importer cum retailer.

However, stores chains with shops in multiple locations will not be part of the scheme.

Mir also appreciated teh Federal Board of Revenue’s Tax Asaan App, which he said will lessen the hassle of documentation and ease technicalites.

Every person shall be liable to pay monthly advance tax. The advance tax paid shall be the minimum tax in respect of income from the business covered under this scheme, according to BR.

For the latest news, follow us on Twitter @Aaj_Urdu. We are also on Facebook, Instagram and YouTube.

Sales Tax