Federal Board of Revenue (FBR) to Introduce Retailer Tax in Five Major Cities
In a recent development, the Federal Board of Revenue (FBR) has decided to implement a targeted tax regime for retailers in the five major cities of Pakistan, according to a news article on January 4.
The designated cities for this taxation initiative include Islamabad, Karachi, Lahore, Peshawar, and Quetta. It is anticipated that this strategic move will generate substantial revenue of PKR 100 billion from these cities alone.
Insiders familiar with the decision have revealed that the FBR has outlined a comprehensive scheme to extend taxation to 350,000 retailers nationwide. The initial phase will involve the imposition of taxes on retailers in Islamabad and the four provincial capitals.
Sources indicate that the broader implementation of this taxation initiative is projected to yield an impressive revenue of over PKR 300 billion. Taxes will be assessed based on factors such as the size of the shop and annual income, with collections taking place every month.
For More Details Visit Pakistan's Most Active Property Forum: