FBR imposes taxes on Retailers and anticipates 100 billion in Revenue from major cities in Pakistan.

The Federal Board of Revenue (FBR) updated the previous scheme and introduced a new tax scheme targeting major retailers in Pakistan’s major countries including:

The names of the cities are given below!

Lahore
Peshawar
Quetta
Karachi
Islamabad

This scheme currently needs governmental approval before it’s officially launched.

This scheme is to give installments to the International Monetary Fund (IMF). This scheme is suggested by the IMF to improve Pakistan’s revenue growth. As it is well important for economic development and the growth of revenue. Beginning Federal Board of Revenue aims to add 100 billion in revenues

According to this scheme, the retailer should pay a 10% tax in advance on annual income. This decision is dependent on the retailer’s shop size, sales, and annual income.

This may affect lead to an increase in growth revenue, but it may also affect the poor people and increase the Inflation ratio in Pakistan. This also affects the sudden increase in prices of different things including Fuel, oil, gas food items etc.