Written by Shahnawaz Akhter Sarafa association seeks simplified turnover-based tax system for jewelry sector The All Pakistan Sarafa Gems and Jewelers Association has proposed a special tax regime for jewelers aimed at simplifying income tax payments and record-keeping procedures for the sector. President of the association, Qasim Shikarpuri, presented the proposed “Special Procedure for Income Tax 2026” for the jewelry industry. He said the government could introduce the regime under Section 99C of the Income Tax Ordinance, 2001, which empowers authorities to adopt special tax procedures for specific sectors. According to Shikarpuri, the objective of the proposed regime is to make the jewelry business simpler, more transparent, and financially stable. He said the proposed procedure would introduce a clear turnover-based tax system that would help jewelers avoid unnecessary complexities, excessive tax burdens, and administrative harassment. Under the proposed framework, separate final tax rates have been suggested for goldsmiths, retailers, manufacturers, and bullion dealers. The association also proposed allowing jewelers to submit simplified tax returns while…