The FBR will kick-start registration in Tajir Dost Scheme in four cities Karachi, Lahore, Peshawar Islamabad, and Rawalpindi in the first phase and the tax collection will be made effective from July 1.
The notification regarding the mandatory registration of retailers has been issued. Under the scheme, the traders who pay their tax before 15 of every month will get 25pc concession.
The traders will be charged tax on the yearly rental value of the shop and every shopkeeper has to at least Rs1200 income tax every year. On the Tajir Dost Scheme, an official said that the registration drive would be launched in six cities Islamabad, Rawalpindi, Karachi, Quetta, Lahore, and Peshawar. All non-filers and unregistered traders and shopkeepers would apply for registration under Section 181 of the Income Tax Ordinance 2001. They would register themselves through the Tajir Dost scheme in the Tax Asaan App through their mobile phones or FBR’s web portal or by visiting FBR’s tax facilitation centers. The last date of registration is April 30, 2024.
Failure in registration would result in the imposition of monetary penalties under section 182 of the Income Tax Ordinance 2001.