FBR notifies Karachi traders to pay an advance tax of Rs 60,000 under the Tajir Dost Scheme.

The Tajir Dost Scheme requires retailers in the metropolis to pay an advance tax of Rs 60,000 every month. The notice was sent by the regional tax office of FBR Karachi, and it stipulates that the advance tax must be paid by the 15th of every month.

The business community, especially in areas like Liaquatabad and the electronics market, is concerned about the initiative, which aims to make tax compliance easier for traders.

The Karachi business community opted not to pay the advance tax under the government system, citing concerns about being subjected to yet another financial burden by the authorities.

A day prior, the traders’ community said that on August 28, they would go on strike nationwide in opposition to the Federal Board of Revenue’s (FBR) Tajir Dost program.

Together with other trade associations, All Pakistan Anjuman-e-Tajiran called for the discontinuation of the Tajir Dost program, deeming it to be “unacceptable.”

The traders insisted on the immediate cancellation of the plan and the reversal of the decision to impose high taxes on the export industry.

Along with this, the traders wanted the higher income tax brackets for businesses and salaried people to be removed.