July 25, 2024 Lahore, July 25, 2024 – The Federal Board of Revenue (FBR) has established fixed income tax rates based on the value of shops located in various areas of Lahore. This move aims to streamline tax collection from shopkeepers and retailers across the city. The FBR, through SRO 1064(I)/2024, has notified these fixed rates of income tax for shopkeepers and retailers, based on the value of their retail outlets or shops in different areas. Lahore is one of 42 cities for which the FBR has notified valuation tables and fixed income tax rates. These rates have been issued under the Tajir Dost Scheme, which is designed to facilitate and encourage tax compliance among traders. The indicative values and corresponding income tax rates for leading areas in Lahore are detailed below: S.No City Area Indicative Income Tax on Indicative Income (PKR) Monthly Advance Tax (PKR) 1 Lahore AABKARI ROAD, DATA GUNJ BUKSH TOWN 1,000,000 60,000 5,000 2 Lahore AALIA TOWN MEHMOOD BOOTI NEW, SHALIMAR TOWN 680,000 12,000 1,000 3 Lahore ABADI MUSALA MOUZA MUSALA, Allama Iqbal Town 680,000 12,000 1,000 4 Lahore ABADI SHAH FARIDABAD, SAMANABAD TOWN 1,000,000 60,000 5,000 5 Lahore ABBOTT ROAD, DATA GUNJ BUKSH TOWN 1,000,000 60,000 5,000 6 Lahore ABDALI ROAD, DATA GUNJ BUKSH TOWN 680,000 12,000 1,000 7 Lahore ABDALIAN COOP SOCIETY, Allama Iqbal Town 1,000,000 60,000 5,000 8…