Income Tax Amnesty Scheme notification for traders issued
FBR issued the notification of Income Tax Amnesty Scheme for the traders, to remain valid till 2018
ISLAMABAD: (Dunya News) – Federal Board of Revenue (FBR) has on Monday issued the notification for Income Tax Amnesty Scheme for the traders that will remain valid till 2018, reported Dunya News.
According to the notification, the Income Tax Amendment Act 2016 has been implemented across the country. It will be mandatory for the traders to file the tax returns for the year 2015.
Those having a trade volume of Rs. 50 million will have to file 0.2% tax. In the second slab, those having sales between Rs. 50 million and Rs. 250 million will have to pay Rs. 100,000 as fixed tax and 0.15% tax will be implemented. For those having sales above Rs. 250 million will have to pay a fixed Rs. 400,000 and an additional income tax of 0.1%.
