The Federal Board of Revenue (FBR) has finalized a plan to impose taxes on retailers nationwide, aiming to expand the tax base. Initially, the tax will be applied to retailers in four provincial capitals, estimated to generate approximately Rs100 billion in income.
This taxation scheme will be based on the size of the shop and the yearly income of the retailers. Approval from the caretaker government is pending, with plans to levy taxes on 3.5 million retailers across Pakistan, projected to contribute Rs300 billion to the national revenue.
Previously, the FBR achieved a significant milestone by collecting Rs1.021 trillion in December 2023. After adjusting refunds of Rs38 billion issued during that month, the net collection stood at Rs984 billion, surpassing both monthly and six-month targets. The initial six-month target of Rs.4425 billion was exceeded by Rs.43 billion, resulting in a collection of Rs.4468 billion, as per a press release.
