The Federal Board of Revenue (FBR) has shown readiness to revise the tax scheme in response to traders’ demands, signaling a possible shift in the ongoing tax collection discussions.
FBR sources mentioned that if traders agree, a revised note could be issued soon, with proposed changes including exempting small traders from tax liabilities. The amendments may also involve simplifying the income tax return form and offering it in Urdu, as well as exempting businesses with an annual turnover of up to Rs 100 million from sales tax.
Read more: Major Cities See Mixed Market Response to Nationwide Strike Against New Taxes
Previously, Rana Ehsan Afzal, the Prime Minister’s coordinator, emphasized that the government wouldn’t yield to traders’ pressure but remained open to negotiations. Meanwhile, traders across Pakistan are observing a nationwide strike against the hike in electricity bills and new taxes, leading to business closures in major cities.
Trader leaders, Ajmal Baloch and Kashif Chaudhry, demanded the government retract the ‘Tajir Dost Scheme’ notification before any meaningful engagement, suggesting that tax collection should focus on high-profile individuals to reduce reliance on the IMF.
