SIALKOT: The Federal Board of Revenue (FBR) has decided to introduce ninth schedule for traders in Income Tax Ordinance in financial budget 2016-17.
An official of the FBR told Customs Today that the FBR will extend Income Tax Ordinance 2001 to bring traders in tax net. He said that the FBR would introduce ninth schedule for wholesalers. He said that the FBR would also include some new measures in this schedule for traders who file returns and will announce some concessions for traders in upcoming budget.
He said FBR Chairman Nisar Mohammad Khan has also consulted the economic experts to grant relief to traders. While on the other hand, traders also suggested the FBR to introduce latest technology to bring non-filers into the tax net.
