FBR’s Tajir Dost Scheme to kickstart from April 1
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April 1, 2024
Finance Minister Muhammad Aurangzeb has given the go-ahead for a new plan, which will help traders get registered for taxes. This plan is called the Tajir Dost Scheme. It aims to include five big groups of traders in the tax system.
The plan has been approved by the Finance Minister but is waiting for official confirmation. It’s going to target different types of traders, like those who sell furniture, jewelry, groceries, and more, in big cities like Karachi, Lahore, and others.
The plan also includes people who both make and sell things, and those who do both wholesale and retail business.
To make sure people are paying their taxes, some tax offices and banks will stay open on weekends to meet the tax collection target for March.
Traders can register for taxes through an app, a website, or by visiting a tax office. Registration starts on April 1, and taxes will start being collected from July 1. If traders don’t register by April 30, they’ll have to pay fines.
The plan offers discounts on taxes if paid early or all at once. Registration has been made easier, so people don’t need help from tax experts.
