FBR issues updated tax rates for traders with 25 per cent discount offer

ISLAMABAD: The Federal Board of Revenue (FBR) has announced the adjustable advance tax rates for traders under the Trader-Friendly Scheme. According to the new tax rates, a monthly tax of PKR 5,000 has been applied to 78 per cent of areas.

Under the scheme, tax rates have been set as follows: PKR 10,000 for 14 per cent of areas, PKR 20,000 for 5 per cent of areas, PKR 30,000 for 2 per cent of areas, PKR 45,000 for 0.6 per cent of areas, and PKR 60,000 for 0.32 per cent of areas.

Additionally, a 25 per cent discount will be offered on a one-time tax payment under the scheme.

Chief Coordinator of the Trader-Friendly Scheme, Muhammad Naeem Mir, stated that traders who believe the tax rates in their areas are excessively high have the option to submit their objections to the Regional Tax Office.

Traders are advised to submit their objections in writing to the Regional Tax Office and obtain a written receipt for their submissions.