Pakistan: FBR imposes PKR 60,000 monthly advance Tax on Karachi traders - World News Network

Karachi [Pakistan], August 18 (ANI): The Federal Board of Revenue (FBR) has issued a notification to traders in Karachi, demanding them to pay an advance tax of Pakistani currency (PKR) 60,000 per month under the Tajir Dost Scheme, ARY News reported.
The regional tax office in Karachi has instructed shopkeepers to make this payment by the 15th of each month.
This move, intended to simplify tax compliance for traders, has raised concerns among business owners, particularly those operating in markets like Liaquatabad and the electronics market, who are now facing this new financial obligation, as per ARY News.
The business community in Karachi expressed worry over another financial burden by the authorities and decided not to pay the advance tax under the government’s scheme.
A day earlier, the traders’ community announced a country-wide strike on August 28 against the Tajir Dost scheme introduced by the Federal Board of Revenue (FBR).
According to ARY News, all Pakistan Anjuman-e-Tajiran in a joint presser with other traders associations, demanded the withdrawal of the Tajir Dost scheme which they termed ‘unacceptable’.
Traders are urging the government to reconsider its recent tax policies, calling for the immediate withdrawal of the Tajir Dost Scheme and the reversal of the decision to impose heavy taxes on the export sector.
Additionally, they are demanding the rollback of the recent increase in income tax slabs, which targets salaried individuals and businessmen.
Recently, Women in Karachi protested against soaring inflation and heavy taxes.
Several members of the Jamaat-e-Islami organised a protest in Karachi, raising their concerns against the soaring inflation and unfair taxes imposed by the government.
These protestors mentioned that the skyrocketing inflation and high taxes have been severely impacting the survival of their families.
They claim that the government’s policies have caused them immense pain. They also criticized the government’s imposition of heavy taxes on essential commodities and services, exacerbating the financial difficulties faced by the public.
A woman protestor while elaborating on the issue mentioned “The only tragedy in Karachi is heavy taxes and expensive electricity. We are now fed up with these baseless taxes and skyrocketing inflation and are now forced to come out on the streets and raise our voices.”
Another protestor mentioned, “My only appeal to the government is that if they cannot bring down inflation, then raise the salaries or income of our fathers, brothers and sons, provide them more employment opportunities.”
Reportedly, Pakistan had previously struck a 7-billion US dollar IMF loan deal last month that includes tough measures such as more taxes on electricity prices. (ANI)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News