Friday, 22 November 2024
Trending
The Transport Minister unveiled the r12 people bus service in Karachi. The President of China arrives in the United States; Biden and Xi meeting to be held at the location unknown to the public. China declares scholarships for Pakistani students and scholars 2023. Big rescue operation is currently in progress following the Uttarkashi tunnel collapse. Iceland volcanic eruption: State of emergency announced due to the potential threat. Bitcoin experiences a slight decrease, while alternative cryptocurrencies reflect this trend amidst volatile conditions. Batik Air from Malaysia initiates flight services connecting Karachi and Kuala Lumpur. UAE Heavy rainfall has transformed roads into waterlogged areas in several cities, including Dubai. Cristiano Ronaldo took control of the Portuguese media organization. Taylor Swift and Travis Kelce Thanksgiving plans have been disclosed.

اُردو

levy taxes
levy taxes
EconomyHeadlinesPakistan

Choice to levy taxes on shops in five big cities across the country.

Share

The Federal Board of Revenue (FBR) has decided to levy taxes on retailers in 5 major cities of the country.

According to FBR sources, it has been decided to impose tax on retailers in Islamabad, Karachi, Lahore, Peshawar, and Quetta.

Sources suggest that an estimated revenue of 100 billion rupees is expected from taxing retailers in these 5 major cities.

FBR has prepared a scheme to tax 35 lakh retailers across the country. In the first phase, retailers in Islamabad and the four provincial capitals will be taxed.

It’s worth noting that the International Monetary Fund (IMF) has imposed a condition to increase the tax net for providing credit to Pakistan. Sources indicate that the decision to impose tax on retailers is also a step in fulfilling this IMF requirement.

Read more about “Prices of ghee and oil have been reduced nationwide in Pakistan.”