PM Khan to introduce fixed tax scheme for business community

Prime Minister Imran Khan will meet the heads of traders’ organizations today to declare concessions and rights including, a fixed tax scheme for them.

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  • A delegation of around 100 representatives including, the heads of various business organizations, will meet the Prime Minister at the PM House.
  • The PM will request the business community to apply the condition of the Computerized National Identity Card (CNIC) presentation after January 31.
  • Traders with an annual income of Rs.100 million would have to pay 0.5% of the income instead of 1.5%.

tax scheme

Prime Minister Imran Khan will meet the heads of traders’ organizations today to declare allowances and benefits including, a fixed tax scheme for them.

A delegation of around 100 representatives including, the heads of various business organizations, will meet the Prime Minister at the PM House.

The Chairman of the FBR, Shabbar Zaidi, would also attend the meeting.

The Prime Minister will notify the delegation about the reforms and policies introduced by the government to support the business community.

Two-day Protest

Last year, traders went on a two-day strike to protest the government’s tax reforms.

The PM will request the business community to apply the condition of the Computerized National Identity Card (CNIC) presentation after January 31st to record the country’s economy and collaborate with the registration of new taxpayers.

Fixed Tax Scheme

A fixed tax scheme for vendors will also be revealed according to which merchants with an annual income of Rs.100 million would have to pay 0.5% of the income instead of 1.5%. Moreover, the limit of the electricity bill for registration in sales tax register has been increased to Rs.1.2 million from Rs. 600, 000.

Likewise, the government will revise the rate of income tax for sectors with low-profit ratios and solve the issues of the jewelers.

Committees will be set up for traders that will work in association with the FBR to resolve their problems.


Also See:

Tax Laws Changed To Provide Concessions To Traders, Reduce The Duty On Import Of Mobile Phones

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