KARACHI: The Federal Board of Revenue (FBR) is considering imposing fixed tax on shopkeepers and wholesale dealers instead of turnover tax.
According to Additional Commissioner IR Furqan Abbasi, the government will also impose the same formula on petrol as due to fluctuations in oil prices in the global market the revenue of the FBR will not be affected.
He said that the federal government is considering the recommendations of Tax Reforms Commission and in the light of its recommendations it has been decided to levy fixed tax on shopkeepers and wholesale dealers. He further said that government is taking every possible measures to bring more traders into tax net. He said that fix tax will be applied to shops according to their size, he concluded.
