Govt Announces Plans to Bring Small Shop Owners Into Tax Net

Govt announces plans to bring small shop owners into tax net

Finance minister claims Pakistan’s economy remained stable despite floods and ongoing Middle East conflict New fixed tax scheme to cover three to four million shop owners Scheme is meant for traders with an annual turnover of up to Rs200 million: Bilal Azhar Kayani Shop owners in fixed tax scheme will be.

Another scheme for traders - Pakistan Observer

IN the backdrop of failure of almost all such schemes launched in the past, the Government, on Friday, announced the launch of a small trader scheme requiring businessmen to pay a fixed 1% tax on sales in return for exemptions from tax audits and requirements related to digital transaction systems, with officials projecting annual revenue of Rs.50 billion. Finance Minister Muhammad Aurangzeb unveiled the scheme at a press conference alongside Mi…

Small traders reject tax scheme

KARACHI: Traders have rejected as “ridiculous” and “unacceptable” the tax scheme announced by Finance Minister Muhammad Aurangzeb and Minister of State for Finance Bilal Azhar Kayani, suspecting that the initiative is framed to protect big businessmen under the garb of small businesses. President of the All Pakistan Organisation of Small Traders and Cottage Industries Karachi, Mehmood Hamid, said the announcement once again exposed what he descr…