Meeting reviews Asaan Tax Scheme application

FBR officials will visit Karachi every month to address grievances, facilitate businesses

ISLAMABAD:

Minister of State for Finance and Railways Bilal Azhar Kayani on Saturday visited the Karachi Chamber of Commerce and Industry (KCCI) for an extensive meeting with representatives of the trading and industrial community.

The meeting was attended by representatives of trade and shopkeeper associations from across Karachi, Hyderabad and Sukkur and focused on a comprehensive briefing regarding the newly operationalised "Asaan Tax Scheme" and its mobile application. Kayani highlighted that the scheme was introduced on the direct demand of traders and shopkeepers to simplify tax processes while expanding the national tax net, said a press release.

To ensure seamless execution, focal persons from the Federal Board of Revenue (FBR) and trade representatives had been designated across various regions of the country. The initiative introduces a simplified, user-friendly registration process featuring an Urdu-language form that shopkeepers can easily submit online.

Under the scheme, shopkeepers will pay a streamlined 1% tax on their declared annual sales turnover, with taxes deducted through utility bills and being fully adjustable.

Enrolled retailers will receive a green registration plate from the FBR and displaying the green plate will ensure that FBR personnel do not visit the shop for routine questioning. Furthermore, participating shopkeepers will generally be exempt from audits, will not be required to install Point of Sale (POS) machines and will not need to act as withholding agents. To further support the business community, Kayani announced that, under the directives of Prime Minister Shehbaz Sharif, senior FBR officials would spend one week every month in Karachi to resolve commercial grievances on the spot and provide immediate facilitation for businesses.

This initiative was launched in August and will continue on a systematic basis to ensure immediate relief for traders. Representatives of trade organisations and the KCCI commended the state minister for his continuous engagement and appreciated PM Sharif for efforts to address the challenges facing the business sector.