Karachi: The Federal Board of Revenue (FBR) has constituted several committees to decide the eligibility of the city’s retailers and wholesalers for sales tax registration purposes, according to news sources.
Regional Tax Office (RTO)-II Karachi Chief Commissioner Inland Revenue Badaruddin Ahmed Qureshi stated that the bodies consisted of both FBR officials and representatives of Karachi’s trade associations. He further said that these members would provide the detailed criteria for mandatory sales tax registration for wholesalers and retailers.
He said that a nationwide campaign would be launched to encourage retailers and wholesalers to get themselves registered with the taxation agency. Commissioner Qureshi said that the FBR would introduce simple registration forms to bring retailers into the tax net.
In October, the FBR and the country’s trading community had signed an agreement for facilitating small businesses in their business tax and declaration submissions.
The market committees will also come up with solutions to resolve the business community’s concerns with the tax authority. Moreover, they will assist the FBR in setting the turnover amount of retailers for tax payment purposes.
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