Islamabad 51
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
Islamabad 51
No Result
View All Result
Home Latest

Government Launches Tajir Dost Scheme for Retailer Registration in Major Cities

Editor Isb by Editor Isb
May 14, 2025
in Latest, National
0
Retailer Shop in pakistan
Share on FacebookShare on Twitter

ISLAMABAD: In line with IMF demands, the government has initiated the Tajir Dost Scheme registration process in six major cities across the nation, encompassing four provincial capitals along with Rawalpindi and Islamabad. The initial phase of the Tajir Dost Scheme roll-out covers Karachi, Lahore, Islamabad, Rawalpindi, Quetta, and Peshawar.

This action coincides with the finance minister’s announcement regarding Pakistan’s forthcoming issuance of a $300 million Yuan-denominated Panda bond, affirming the timely repayment of external debts owing to sufficient foreign exchange reserves.

More Insights: Explore Related Stories

FBR SIM Block Order: Complete List and How to Unblock your Mobile SIM cards?

FBR Set to Launch Tajir Dost Scheme to Register Traders in Major Cities

IMF Urges FBR to Extend Capital Gains Tax to Cryptocurrencies

IMF Displeased with Premature Ministry Announcement on Economic Targets

Commencing from April 1, 2024, retailers will begin registration under the Tajir Dost Scheme, with tax collection slated to commence from July 1, 2024. The Federal Board of Revenue (FBR) will extend tax coverage to online marketplace platforms under this scheme, aiming to integrate one million retailers into the tax system, as stated by a senior FBR official.

According to the Statutory Regulatory Order (SRO) 420(1)/2024 released on Friday, the FBR has published a draft special procedure for small traders and shopkeepers, inviting objections or suggestions within seven days of its official gazette publication.

The draft Tajir Dost Scheme outlines a special procedure under section 99B of the Income Tax Ordinance, 2001, applicable to traders and shopkeepers with fixed business premises within specified cities, excluding certain entities specified by the Board.

The scheme is effective from April 1, 2024, with certain provisions effective from July 1, 2024. Traders and shopkeepers are required to register by April 30, 2024, and comply with monthly advance tax payments as per the prescribed method.

Regarding the Yuan-denominated Panda bond issuance, Finance Minister Muhammad Aurangzeb disclosed plans for an initial sale ranging between $250 to $300 million, with potential subsequent issuances. Pakistan anticipates timely repayment of external debts without adverse effects on the exchange rate, with the rupee expected to remain stable.

Pakistan is considering a new loan program from the IMF, with further details to be determined after the lender’s annual spring meetings. The US has shown support for Pakistan’s efforts in this regard.

Prime Minister Shehbaz Sharif has instructed his finance team to explore options for an extended fund facility from the IMF, acknowledging its inevitability. The IMF stands ready to assist in formulating a new economic program if requested.

Reflecting on past economic challenges, the federal finance minister highlighted the significance of diversifying funding sources, expressing regret over delays in exploring new markets for debt issuance.

(Islamabad51_Newsdesk)

Tags: FBRGovernment SchemeRetailer RegistrationTajir Dost SchemeTax Collection
Previous Post

Pakistan Initiates Talks with IMF for Extended Fund Facility Amidst Economic Crisis

Next Post

Former PCB Chairman Shahryar Khan Passes Away in Lahore

Editor Isb

Editor Isb

Related Posts

SIM Block FBR

FBR SIM Block Order: Complete List and How to Unblock your Mobile SIM cards?

by Editor Isb
May 14, 2025
0

ISLAMABAD : The Federal Board of Revenue (FBR) has taken strict action against non-filers by directing the Pakistan Telecommunication Authority...

FBR Decides to Impose Retailer Tax in Major Cities

FBR Set to Launch Tajir Dost Scheme to Register Traders in Major Cities

by Editor Isb
May 14, 2025
0

ISLAMABAD: The Federal Board of Revenue (FBR) is gearing up to initiate the registration process for traders under its Tajir...

crypto currency coin

IMF Urges FBR to Extend Capital Gains Tax to Cryptocurrencies

by Editor Isb
May 14, 2025
0

ISLAMABAD: The IMF has suggested that the FBR expand the coverage of the Capital Gains Tax (CGT) by incorporating cryptocurrencies...

Next Post
Former PCB Chairman Shahryar Khan Passes away

Former PCB Chairman Shahryar Khan Passes Away in Lahore

Global Commodities Trends

Global Commodities Trends

ishaq dar

Pakistan Considers Resuming Trade with India, Signals Diplomatic Shift: FM Ishaq Dar

Asif Ali Zardari and Salman Bin Abdul Aziz

Pakistan and Saudi Arabia Pledge to Strengthen Bilateral Cooperation

Follow Us

Recommended

PSX 100 Index Soars to 48,000 Mark after Two Years

PSX 100 Index Soars to 48,000 Mark after Two Years

2 years ago
Three suspected robbers killed in alleged police encounter

Three suspected robbers killed in alleged police encounter

2 years ago
Image of Urdu University

Federal Urdu University Enforces Student Organisation Ban

1 year ago
Tauba & Aafat Geo Tv drama

Seventh sky entertainment unveils two new dramas Touba, Aafat on geo tv

8 months ago

Categories

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • Home 1
  • Privacy Policy
  • Terms of Service

Follow us on Google News for Latest Updates

Recent News

  • Muharram moon likely on June 26; Punjab announces strict security measures
  • Monsoon alert: heavy rain and thunderstorms forecast in major cities
  • Imran Khan’s legal troubles grow with fresh bail denial

Category

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us

© 2023 Islamabad51