Sargodha: Traders filing annual tax returns under the Tajir Dost Scheme will be required to pay Rs 25, 000, while no additional restrictions have been imposed on those filing normal returns, Federal Board of Revenue (FBR) Sargodha Regional Chief Commissioner Noreen Yaqoob said on Tuesday.
She said the FBR was also introducing a modern database system to facilitate traders and make the tax system more effective and transparent. Addressing traders at the office of the Sargodha Chamber of Small Traders and Small Industries, Noreen Yaqoob said the government was continuing the process of reforms for the business community and the Tajir Dost Scheme was part of these efforts.
She assured traders that they would be provided comprehensive guidance and facilities regarding the tax system. ‘The doors of the FBR are always open to traders, and all possible cooperation will be extended to resolve their tax-related issues, ‘ she said.
She stressed that transactions through Point of Sale (POS) machines had become essential in view of modern business requirements. However, she said, the FBR had found that some traders had failed to install or activate POS machines despite the passage of more than two years.
The chief commissioner said the FBR was developing a modern database system in line with contemporary requirements, which would help improve the efficiency and transparency of the tax system.
On the occasion, FBR Commissioner Inland Revenue Azmat Ranjha said seminars would be organised to create awareness among traders about the Tajir Dost Scheme, while information would also be disseminated through the media.
He said that FBR officials would visit markets and bazaars to brief traders about the scheme, its benefits and the procedure for registration and compliance.
Sargodha Chamber of Small Traders and Small Industries President Muhammad Hassan Yousaf called for the introduction of a trader-friendly policy and a simplified taxation system so that traders could easily understand the procedures and benefits.
