تاجروں کیلئے ضروری رجسٹریشن سکیم “تاجر دوست” کا آغاز

In order to reduce tax evasion and increase tax compliance, the federal government has introduced a mandatory registration scheme for retailers and wholesale sellers operating in Pakistan’s six major cities. The Federal Board of Revenue (FBR) has issued a notification for the implementation of the scheme from April 1, under which all traders must register with the FBR through the Trader Friend app from April 1 to April 30. The scheme’s Phase Three, which includes the collection of advance tax from traders, will be applicable from July 1. This scheme has fulfilled another condition of the IMF. According to the FBR notification, the scope of the scheme has been extended to retailers, wholesale sellers, dealers, manufacturer retailers, importer retailer, etc. The scheme has been implemented in Karachi, Lahore, Islamabad, Rawalpindi, Quetta, and Peshawar. The notification also outlines the application of taxes on traders and the process of collection, stating that those who do not register on the Trader Friend app by April 30 will face action under Section 182. Under the scheme, every trader will be required to pay monthly advance income tax by the 15th of each month. If a trader’s income falls below the income tax threshold, they will be required to pay an annual income tax of 1,200 rupees. Traders who pay the complete income tax on time will receive a 25% discount on income tax. All activities will be carried out through a separate computerized system, and the determination of taxes will be based on the annual rent of the commercial space.