FBR issues tax rates under Tajir Dost Scheme
Business
Traders are advised to submit their objections
(Web Desk) - The Federal Board of Revenue (FBR) has announced adjustable advance tax rates for traders under Tajir Dost Scheme (Trader-Friendly Scheme).
According to the new rates, a monthly tax of Rs5,000 will apply to 78 percent of areas.
The scheme sets the following tax rates: Rs10,000 for 14 percent of areas, Rs20,000 for 5 percent of areas, Rs30,000 for 2 percent of areas, Rs45,000 for 0.6 percent of areas, and Rs60,000 for 0.32 percent of areas.
Additionally, traders can receive a 25 percent discount if they make a one-time tax payment under the scheme.
Muhammad Naeem Mir, the Chief Coordinator of the Trader-Friendly Scheme, mentioned that traders who find the tax rates in their areas too high can submit their objections to the Regional Tax Office.
Traders are advised to submit their objections in writing and to obtain a written receipt upon submission.
