ISLAMABAD: The government has announced its readiness to amend the Trader Dost Scheme, following the call for nationwide protests by traders against additional taxes and the scheme’s provisions.
Sources within the Federal Board of Revenue (FBR) revealed that a notification for the amendment of the SRO will be issued soon.
The decision comes after significant unrest from the trading community, which has led to a nationwide shutter-down strike call by major trade organizations. The two major trade organizations of the country refused to negotiate with the FBR, after which the Markazi Anjuman Tajiran and the Tanzeem-e-Tajiran-e-Pakistan announced a strike for today in protest against the scheme and the rising electricity bills.
In response to the traders’ concerns, the government is preparing to introduce changes aimed at addressing the issues raised. Key proposed amendments include simplifying the income tax return form by issuing it in easy-to-understand Urdu language and potentially exempting businesses with an annual turnover of up to Rs100 million from sales tax.
FBR sources say that the amendment to exempt small traders from tax is included in the draft. The bureau is also expected to amend the income tax table for traders.
These changes are intended to alleviate some of the burdens on the business community and address grievances that have sparked the recent wave of protests.
