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FBR Decides to Impose Tax on Retailers in Five Larger Cities

FBR Decides to Impose Tax on Retailers in Five Larger Cities

Lahore: As per the latest news the Federal Board of Revenue (FBR) has chosen to impose a tax system on shops in Pakistan's five largest cities.

Also Read: FBR Plans to Impose Ban on Sims and Mobile Phones of Non-Filers

The cities that are included are Islamabad, Karachi, Lahore, Peshawar, and Quetta, according to insiders who are aware of the decision. It is projected that this action will bring in PKR 100 billion in revenue from the selected cities alone. Additionally, the FBR has presented a thorough plan to tax 350,000 merchants around the country. Retailers in Islamabad and the capitals of the four provinces will be subject to taxes in the first phase.

According to sources, the full execution of this taxation policy is expected to generate approximately PKR 300 billion in income. Monthly tax collections will occur, with assessments of taxes made on the basis of the shop's size and yearly income.

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