Islamabad (Web Desk): The government has launched registration of Tajir Dost Scheme in six major cities of the country, including Islamabad, Rawalpindi and four provincial capitals.
Under Tajir Dost Scheme, the retailers will kick start registration from April 1, 2024 and then the tax collection will take place from July 1, 2024.
The draft of Tajir Dost Scheme says: In exercise of powers vested in the FBR under section 99B of the Income Tax Ordinance, 2001 (hereinafter called the Ordinance), the following special procedure for small traders and shopkeepers to be called Tajir Dost Scheme, 2024 (hereinafter called the scheme), is hereby prescribed.
This scheme shall apply to the traders and shopkeepers operating through a fixed place of business including a shop, store, warehouse, office or similar physical place (hereinafter referred to business premises) located within the territorial civil limits including cantonments in the cities as specified in the schedule to this scheme for registration and payment of minimum advance tax.
It shall not apply to a person -being a company or; operating as a unit of national or international chain stores in more than one city or; a person or a class of persons specifically excluded by the board.
The board said scheme shall come into force with effect from April 1, 2024 except Part-II, which shall come into force with effect from July 1, 2024.