Home Business Pakistan shopkeepers brace for new FBR Taxes amid economic strain
Pakistani government is taking stern measures to get more and more taxes to increase state revenues and to salvage another bailout. The latest measures sparked concerns among experts and industrialists about potential public backlash.
After plethora of taxes, Federal Board of Revenue (FBR) is set to implement monthly taxes ranging from Rs100 to Rs10,000 on retailers and small shopkeepers.
The country’s top tax collection authority aims to expand the Fixed Retailers Scheme to include 42 more cities, with taxes assessed based on the value and earnings of shops.
This move was crucial in compliance with IMF terms, income taxes for salaried individuals will increase, and taxes will be imposed on retail and small shop levels.
FBR aims to collect Rs50 billion from small shopkeepers in the current fiscal year. Although registration of small shopkeepers began several months ago, it encountered opposition and concerns from the business community.
Critics argue that taxes should be proportional to income rather than preset criteria. Small traders and shopkeepers assert they are already grappling with numerous challenges, urging the government to focus on combating smuggling and creating a more favorable business environment.
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