Islamabad: The Federal Board of Revenue (FBR) on Thursday announced its decision to temporarily suspend its policy concerning the display of Computerised National Identity Cards (CNICs) for traders undertaking purchases of items in excess of PKR 50,000 for a period of two months (till October).
A decision to this effect was made during a meeting held between FBR Chairman Shabbar Zaidi and representatives of the All Pakistan Anjuman-e-Tajraan; a union of traders and small shopkeepers.
The FBR recently made it mandatory for industrialists to seek CNICs from distributors and wholesalers undertaking transactions in excess of PKR 50,000.
Talks between the board and the traders association are expected to resume after the Eid holidays for addressing the concerns of the traders regarding the new FBR condition under which they are required to showcase their CNICs at the time of pursing transactions above PKR 50,000.
