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Thursday July 18, 2024

Traders’ feedback vital for Tajir Dost scheme: FPCCI

By Our Correspondent
June 13, 2024
Customers shop for bangles at a market in Islamabad. — AFP/File
Customers shop for bangles at a market in Islamabad. — AFP/File

LAHORE: Regional Chairperson and Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zaki Aijaz emphasized that a strong and transparent tax system is needed for the growth and stability of the country’s economy on Tuesday.

He expressed his opinions while addressing a special seminar organized regarding the awareness of the FBR Tajir Dost Scheme. For the successful implementation of the Federal Board of Revenue Tajir Dost Scheme, opinions and problems of traders must be considered, he shared. “Consultations will not only increase the effectiveness of policies but also restore traders’ confidence.”

He further said that the Tajir Dost scheme should simplify the tax system and the tax return procedure so that it is easier for small traders to pay taxes and submit returns. The government should also give incentives to traders and industrialists.

According to Aijaz, electricity and gas prices should be reduced so that industrialists and traders can reduce their cost of production and better contribute to the country’s economy. He added that the requirement of monthly advance tax payment under the trader friendly scheme should be reviewed.

During the session, while giving a briefing to traders, Chief Coordinator to Prime Minister for Federal Board of Revenue (FBR) Tajir Dost Scheme Muhammad Naeem Mir and Chief Commissioner Regional Tax Office Lahore Ahmed Shuja Khan said: “the FBR has introduced an easy registration procedure for traders under the Tajir Dost scheme. A simple tax return is created. Traders can take full advantage of it.”

Ahmed further said that “the prime minister has given excellence awards to taxpayers. Tax is our bloodline. The problems of the business community will be solved on a priority basis.” Zaki Ejaz further said that the concept of non-filers should be abolished in the country. Tax should be collected from retailers at the final stage.

Income tax paid along with electricity bills should be adjusted. This will relieve traders from additional burdens.