AGL 40.25 Increased By ▲ 0.09 (0.22%)
AIRLINK 130.45 Decreased By ▼ -1.28 (-0.97%)
BOP 6.69 No Change ▼ 0.00 (0%)
CNERGY 4.56 Increased By ▲ 0.09 (2.01%)
DCL 9.03 Increased By ▲ 0.21 (2.38%)
DFML 41.25 Increased By ▲ 0.64 (1.58%)
DGKC 84.60 Increased By ▲ 0.52 (0.62%)
FCCL 32.64 Increased By ▲ 0.30 (0.93%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.52 Increased By ▲ 0.17 (1.5%)
HUBC 110.60 Decreased By ▼ -1.16 (-1.04%)
HUMNL 14.32 Increased By ▲ 0.01 (0.07%)
KEL 5.25 Increased By ▲ 0.03 (0.57%)
KOSM 8.86 Decreased By ▼ -0.12 (-1.34%)
MLCF 39.15 Decreased By ▼ -0.28 (-0.71%)
NBP 60.75 Increased By ▲ 0.46 (0.76%)
OGDC 195.40 Increased By ▲ 0.46 (0.24%)
PAEL 26.70 Increased By ▲ 0.01 (0.04%)
PIBTL 7.52 Increased By ▲ 0.04 (0.53%)
PPL 155.53 Decreased By ▼ -0.24 (-0.15%)
PRL 27.05 Increased By ▲ 0.37 (1.39%)
PTC 18.06 Decreased By ▼ -0.24 (-1.31%)
SEARL 82.00 Decreased By ▼ -1.02 (-1.23%)
TELE 8.35 Increased By ▲ 0.12 (1.46%)
TOMCL 34.67 Increased By ▲ 0.12 (0.35%)
TPLP 9.10 Increased By ▲ 0.29 (3.29%)
TREET 17.24 Increased By ▲ 0.54 (3.23%)
TRG 62.49 Increased By ▲ 0.04 (0.06%)
UNITY 27.60 Increased By ▲ 0.16 (0.58%)
WTL 1.37 Increased By ▲ 0.09 (7.03%)
BR100 10,387 Increased By 200.2 (1.97%)
BR30 31,505 Increased By 169 (0.54%)
KSE100 97,035 Increased By 1488.9 (1.56%)
KSE30 30,109 Increased By 531 (1.8%)

ISLAMABAD: The Federal Board of Revenue (FBR) has launched a pilot project of Tajir Dost Scheme, 2024, at federal and provincial capitals, which would be extended to other cities at a later stage.

Sources told Business Recorder on Monday that the first phase of the scheme has been launched in Karachi, Lahore, Islamabad/Rawalpindi, Peshawar and Quetta. Later, the scheme would be implemented in the remaining cities including Faisalabad.

When asked why Rawalpindi has been selected for the scheme which is not capital, sources added that the twin cities of Islamabad and Rawalpindi cannot be separated and thus, the names of the adjacent cities have been included in the notified list of the scheme.

Broadening tax base: PM seeks report on phase-wise economic reforms

Tax experts told Business Recorder that the criteria for the selection of cities seem to be fixed on a political basis. The FBR should have selected cities where maximum economic activity is being captured. However, instead of picking potential cities, the FBR has notified the cities on a political basis. Major cities having maximum economic activities such as Faisalabad and Sialkot have been ignored where a large number of wholesalers, dealers, and retailers are operating.

Tajir Dost Scheme, 2024 will be applicable to the traders and shopkeepers operating through a fixed place of business including a shop, store, warehouse, office or similar physical place located within the territorial civil limits including cantonments in Karachi, Lahore, Islamabad, Peshawar, Quetta, and Rawalpindi for registration and payment of minimum advance tax.

In the said cities, the shopkeepers including wholesalers, dealers, retailers, manufacturers cum retailers, importers cum retailers, or such persons who combines the activity of retail and wholesale with any other business activity or other person in the supply chain of goods.

Copyright Business Recorder, 2024

Comments

Comments are closed.

Maqbool Mar 26, 2024 04:12pm
Will the Legal world professionals be exempted ?
thumb_up Recommended (0)