Islamabad: The government has decided to introduce a fixed tax scheme initiative for small traders operating across the country – a news source reported.
To facilitate this measure, a survey will be carried out in 23 big cities as well as several small cities. The traders working in these areas will be registered in accordance with their due taxes (including income tax, sales tax, and federal excise duty).
The government also plans to consult the British taxation authorities on this matter. Moreover, officials of the Federal Board of Revenue (FBR) will survey shops and industrial units.
This taxation scheme comes as part of a fiscal policy directive under which the government hopes to include more people under the tax bracket. All four provincial governments will be asked for their input.
This initiative will be launched in Islamabad, and will later be expanded to other cities. It is pertinent to mention that the government hopes to increase the number of tax payers to 10 million.
