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Fixation of monthly advance tax from retailers: FBR agrees to review valuation table

ISLAMABAD: The Federal Board of Revenue (FBR), Monday, agreed to a major demand of All Pakistan Anjuman-e-Tajran to review the valuation table for fixation of monthly advance tax to be collected from shops and retail outlets.

On Monday, a delegation from All Pakistan Anjuman-e-Tajran, led by President Ajmal Baloch, met with the FBR chairman and his team of tax managers at the FBR House.


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The tax authorities have warned traders that the “Tajir Dost Scheme” would be implemented, and they must register and pay their taxes.

At the end of the conference, Baloch told Business Recorder that the group had expressed worries about the value tables and their impact on retailers across the country.

The tax authorities have agreed to create a committee of FBR members and traders to study the valuation tables and other issues presented by business and trade.

The joint committee members have yet to be notified by the FBR.

However, the FBR is willing to listen to the concerns of the All Pakistan Anjuman-e-Tajran, which is a good sign, according to Baloch.

According to FBR authorities, traders must pay their fair share of taxes into the national budget.

However, the monthly tax is adjustable.

The monthly advance tax rate should be appropriate, and the tax rates for shops and traders should not differ much.

The FBR has also shown willingness to change the relevant SRO to meet the concerns of the trading sector.

The FBR will empower the traders’ committee to make voluntary decisions on exemptions, rates, and fixed tax payments at markets and stores based on their enterprises and shop size.

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