FBR proposes new scheme to tax businessmen in Pakistan: sources
- By Web Desk -
- Mar 21, 2024
ISLAMABAD: The Federal Bureau of Revenue (FBR) proposed a scheme to levy taxes on an estimated 3.5 million traders across Pakistan, ARY News reported on Thursday, citing sources.
Sources within the FBR revealed that the scheme, which is currently under discussion, entails a strategic move to levy taxes on traders alongside their electricity bills.
As part of this innovative approach, it is proposed to introduce a dedicated column on electricity bills, specifically tailored for traders, facilitating the streamlined collection of taxes.
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Sources close to the development revealed that the tax collection mechanism would target the individual conducting business at a shop, rather than the shop owner directly.
Furthermore, it has been outlined that the annual income of traders would be systematically divided into twelve parts, suggesting a monthly tax collection regimen.
The ambitious plan is reportedly slated for implementation before the commencement of the new fiscal year, pending approval from the government officials. Sources further added that the FBR officials briefed the International Monetary Fund (IMF) on the proposed scheme.