The Federal Board of Revenue (FBR) has so far registered over 58,000 small traders or new shopkeepers under the Tajir Dost Scheme against the target of 3.2 million.
Business Recorder has reported that monthly tax payments from traders will start from the ongoing month.
Chief Coordinator of the Tajir Dost Scheme Naeem Mir said that the Board has projected total collection Rs 50 billion under this head in the current year.
Mir said that it is an ambitious target and would require full cooperation of the traders to voluntarily deposit monthly tax payment installments.
FBR has chalked out monthly advance income tax table for traders in 42 major cities of the country.
Based on location of shops, the FBR has issued market or area wise indicative income, indicative income tax and Monthly Advance Tax to be paid by small traders.
Under the monthly tax payment plan, the traders and shopkeepers in 78 percent of the markets would be required to pay monthly advance income tax of Rs 5,000.
The monthly tax payment would be Rs 10,000 per month for traders covered in 14 percent markets of the country. The tax payment would be Rs 20,000 per month in five percent areas. Traders will pay Rs 30,000 per month as tax installment in two percent areas and Rs 45,000 monthly payment in 0.6 percent areas and traders would pay monthly advance income tax of Rs 60,000 per month in 0.40 percent markets of the country.
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