Wednesday, 28 February 2024
Budget 2021 Finance Act FBR Traders

Traders remind FBR of their promise

All Pakistan Anjuman e Tajiran (APAT) President Ajmal Baloch and Secretary Khalid Chaudhry expressing their concern on Tuesday that the Federal Board of Revenue (FBR) promised to install Point of Sales (POS) devices two years ago which has not been fulfilled still now.

The traders’ union leaders explained that the coronavirus pandemic situation has damaged businesses. Which made it impossible for them to meet expenditures and faced heavy losses in past one year. They also said that the Federal board of revenue had imposed the condition of showing the national identity card (NIC) for purchasing, which was practically impossible.

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The traders urged the federal finance minister to reverse the NIC condition in the next budget. They also forced to set the threshold of Rs600,000 for it. They criticised the government’s decision that there would be no imposition of new taxes. But it enhances the tax percentage for the current taxpayers which is unjust.

See also  Big retailers integrated with point of sales system of FBR

They further urged that the government should announce special initiatives to increase the number of taxpayers. They told that the number of commercial electricity connections in the country was more than eight million. All of these connection holders already pay 10 per cent advance income tax on electricity bills.

They forced the requirement to regularise those connections to increase the number of filers. Reiterated that the federal finance minister should announce a relief package for Covid-affected traders.

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Traders | Budget | CNIC | No of Taxpayers | Increase | Budget | Finance Act 2021 | FBR | Federal Board of Revenue |

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