KARACHI: The Federal Board of Revenue has told the International Monetary Fund that 1,016 retailers and shopkeepers have filed returns under the Aasan Tax Scheme.
The issue surfaced during review talks for the fourth review under the $7 billion Extended Fund Facility.
During a meeting with the Ministry of Finance and FBR, the IMF mission asked about progress on the Retailers Fixed Scheme, under which the FBR aims to generate 50 billion rupees this fiscal year.
Sources said about 1,016 retailers have filed returns under the scheme so far, and only 91 are first-time filers. Total tax deposited under the scheme stands at 86 million rupees.
The FBR extended the deadline for filing income tax returns from Sept. 30 to Oct. 15, 2026. Retailers can also use the extended deadline, but their response has been weak.
The government wrote into tax law that after the deadline expires, those who fail to join the scheme face penalties of 10,000 rupees in the first month, 25,000 rupees in the second month and 50,000 rupees in the third month.
