FBR all set to bring Shershah's scrap traders into tax net

KARACHI: The Federal Board of Revenue (FBR) has all set to bring the traders of Karachi’s Shershah ‘Kabari Market’ (scrap market) into tax net, ARY News reported.

In a bid to bring the scrap’s business at Shershah’s market into tax net, officials of the FBR on Friday met with a delegation of ‘Kabari Market’ to take them into confidence ahead of crackdown against the tax evaders.

The traders’ delegation admitted that only 1,000 traders pay their taxes and assured the FBR of their full cooperation.

It is pertinent to mention here that trade deals worth millions of rupees are done on daily basis at the ‘Kabari Market’ market. Above half of the scrap’s traders are out of the tax net.

Earlier, Prime Minister Imran Khan, on February 19, had directed the Federal Board of Revenue (FBR) to adopt new and reformed system for the tax collection and create ease for expansion of tax net in the country.

“Tax defaulters are enemies of the nation, they should be exposed,” PM Khan had said while chairing a high-level meeting in Islamabad regarding tax collection in Pakistan.

Chairman FBR had briefed the prime minister about steps being taken to bring defaulters into the tax net.