Islamabad: In the light of the approaching deadline (September 30), the Federal Board of Revenue (FBR) called the representatives of the trade bodies today (Friday) to discuss their concerns about big retailers’ sales tax registration, computerised national identity card (CNIC) condition, fixed tax regime for small ship-owners and other issues, according to the news sources.
The source reported that there is unrest in the trade community regarding the CNIC condition implementation, which prompted FBR to postpone the deadline to September 30.
The FBR Chairman said in a press briefing that the department is open to dialogue on all these subjects, and expressed hope that the department will succeed in resolving these concerns to the satisfaction of all parties involved.
Please note that FBR announced three draft schemes on August 2, including simplified tax regime for traders, the fixed tax regime for small shopkeepers, and issuance of business licences to expand the tax net to the undocumented sectors.
The FBR officials opined that they have to pursue the department’s new policies to achieve the PKR 5.5 trillion target set for the current fiscal year, under the International Monetary Fund Programme.
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