2024-07-08 18:19:08
(Mehtab Haider) Due to the poor performance of the trader-friendly scheme, the FBR is mulling options to introduce a simple fixed scheme based on shop prices to bring 3.6 million retailers into the tax net.
All schemes to bring businessmen into the tax net have failed in Pakistan for the last three decades. We have to do something different to make an impact but if another routine scheme is introduced it will be another failure in the history of the country. “We are looking at various options to bring 3.6 million retailers into the tax net and this time the FBR is planning to come up with various slips that will be based on shop prices, a fixed tax may be introduced. is to attract them to come into the tax net.
According to sources, pricing of properties in various cities and towns is underway which is likely to be notified during this month. Based on market prices of various cities, a fixed slip for FBR retailers. is planning to introduce the scheme.”, top official sources confirmed while talking to a private newspaper.
“Various features of the fixed scheme for retailers are being studied and it will be launched as soon as possible next week,” a finance ministry official said. on which the last date was 30 April 2024 and only 78 retailers registered themselves. Then FBR roped in businessman leader Naeem Mir and continued its registration drive.
So far, only 44,830 retailers out of over 3 million retailers across the country have registered in the trader-friendly scheme. The shutter powers have always forced the ruling elite and the FBR to take tough measures against retailers. The FBR had taken steps in the recent past to collect taxes through electricity bills and shop sizes but each attempt met with failure.
Point of sale (POS) machines have been installed in branded stores but due to lack of appropriate technology, operational framework and partial procedures within FBR, all IT-based solutions including POS, track and trace and digital invoicing are poorly implemented. Failed.
Top FBR officials argued that there was no coherent vision of documenting the economy in our country as there was no mechanism on the ground to register a retail shop. So, the state essentially assumes that without any fixed additional workforce, the FBR will register every retailer and then bring them into the tax net. The FBR has decided to launch a fixed scheme for retailers next week. Is. Earlier it was envisaged that Rs 12,000 per annum would be collected from the retailers on the basis of Rs 1,000 per month.
2024-07-08 18:19:08