The talks between the Federal Board of Revenue (FBR) and retailers on the Tajir Dost Scheme ended in deadlock on Monday, with both sides firmly maintaining their positions. Despite the impasse, the FBR decided to form a committee comprising traders’ representatives to review the highest indicative fair market value rate of Rs60,000 per month announced for 84 markets across the country. The committee will consider reducing the rate if any retailer claims that their income does not meet the indicative amount.
During the discussions, retailers rejected the scheme entirely and pledged to present their own proposals to enhance tax collection. “We have asked the retailers to propose a plan that increases our tax collection from retailers to Rs100 billion, but it is not feasible for them to avoid entering the tax net,” a top board official stated.
