Heading: FBR TO AMEND SRO 1064: A WIN FOR TRADERS - 2024-08-27
MULTAN: The Federal Board of Revenue (FBR) will revise SRO 1064 of the Tajir Dost Scheme, considering the demands and concerns of traders, according to Naeem Mir, Chief Coordinator of the scheme. During a news conference held at the Circuit House on Monday, Mir announced the upcoming changes alongside Chief Commissioner Inland Revenue, Sajid Tasleem Azam, and Ahmad Hassan, the scheme’s focal person. Mir stated that they conducted an awareness session with trader representatives from the Multan division, where the representatives voiced their concerns and reservations about the scheme. “The session allowed traders to express their issues openly, and we were able to clarify many misunderstandings surrounding the Tajir Dost Scheme,” Mir said. One of the primary objections raised by the traders was regarding the tax valuation table of the scheme. In response to these concerns, the FBR has decided to amend SRO 1064. Mir emphasized that the government will not advocate for non-filers, as the tax burden unfairly falls on the salaried class. To address these issues, a new procedure for revising the evaluation table is being developed. “We are forming a committee at the commissioner level, which will include local trader representatives,” Mir explained. This committee will be responsible for determining the tax amounts for various areas and markets, taking into account the different income levels of traders within those regions. Only individuals earning an income will be required to pay taxes, ensuring fairness across the board. Mir also noted that Prime Minister Muhammad Shehbaz Sharif has instructed that…
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