In a bid to provide relief to small-scale retailers and traders, the Federal Board of Revenue (FBR) has announced a significant tax adjustment on electricity bills. This move comes as part of the newly launched Tajir Dost Scheme, aimed at facilitating shopkeepers and small traders across Pakistan. The FBR unveiled the facilitation guide for the Tajir Dost Scheme on Thursday, outlining the provisions for tax adjustments on electricity bills. Under this scheme, registered shopkeepers and traders will have the opportunity to offset the tax deducted from their electricity bills against their tax liabilities. The scheme extends its benefits to various types of businesses, including wholesalers, retailers, and dealers such as general stores, medical outlets, and furniture shops. However, it’s important to note that the initiative excludes companies or national and international chain stores operating in multiple cities. Existing shopkeepers and traders already registered with the tax department need not undergo another registration process. However, they are required to comply with the advance income tax payment stipulations under the Tajir Dost Scheme, effective from July 1, 2024. The payment process under the Tajir Dost Scheme has been clearly delineated by the FBR. Traders and shopkeepers are expected to remit advance tax payments on a monthly basis. Additionally, those traders subject to quarterly advance income tax payments can adjust the tax already paid while fulfilling their quarterly tax obligations. The FBR emphasized that the Tajir Dost Scheme solely pertains to income tax obligations. Traders necessitated to register for sales tax…