FBR to enforce fixed tax regime for shopkeepers and small businesses

FBR to enforce fixed tax regime for shopkeepers and small businesses
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ISLAMABAD - The proposed draft on fixed tax regime will be finalized after consultations with stakeholders and the FBR 's doors are open for business community to address their grievances.

The draft for Small Shopkeepers Scheme under Section 99B of the Income Tax Ordinance, 2001 has been released for comments. This was stated by FBR Chairman Shabbar Zaidi while talking to a delegation led by Rawalpindi Chamber of Commerce (RCCI) President Malik Shahid Saleem at the FBR House Islamabad here Friday. The delegation includes Senior Vice President Muhammad Badar Haroon, Vice President Fayaz Qureshi, Group Leader Sohail Altaf, former presidents and member executive committee.

Shabbar said the major aim of this draft was to seek proposals from stakeholders; chambers, trade associations as well as general public for any modification in the aforesaid scheme. The FBR believes in partnership with the business community. Increasing tax base and tax net has been on the FBR top priority.

With due consultations with traders and business community amendments will be made to facilitate tax payers and we always welcome recommendations from the business community.

During the meeting, detail discussion was made on fixing retail price for auto parts, imposition of sales tax on size of the shop, issues pertaining to furniture industry, withdrawing Paint Industry from Schedule III and proposed scheme for cottage industry. Consultations are being made with jewelers for data collection, taxes and collection of receipts and we are hopeful to finalise amendments at the earliest. He said without documentation of economy Pakistan can't move forward.

RCCI President Malik Shahid Saleem, on this occasion, said that traders are not against the tax collection as we all have a common voice that harassing traders in the name of collecting taxes must be stopped.

He said Government must adopt a comprehensive strategy in broadening the tax base and tax net rather burdening the existing taxpayers. Traders are facing multiple challenges on proposed new tax regime and amendments made for documentation of the economy specially, imposition of sales tax at import stage, retail price and CNIC condition.

RCCI President demanded that proposed draft on fixed tax regime must be finalized after consultations with business community. "We believe that every citizen had to play its role to improve the economic condition of the country," he added. -PR

Economy