Islamabad: Chairman Federal Board of Revenue (FBR) Shabbar Zaidi recently revealed via a tweet that Prime Minister (PM) Imran Khan would chair a meeting with the All Pakistan Traders on January 20 at the PM House, where he is expected to announce several tax concessions to the traders’ community, a news source reported. Further, the FBR on Saturday rejected the reports of an alleged disagreement between the FBR chairman and the PM’s economic team.
In his Twitter posting, Zaidi also informed that the PM would seek the assistance of the country’s trade bodies to facilitate the government’s tax documentation of the trading sector. In another tweet, the chairman talked about his recent medical check-up at the Gastro Department of SIUT Karachi and confirmed his return to office on the date of the meeting (mentioned).
Earlier in July, the FBR had made it mandatory for people purchasing objects worth PKR 50,000 or more to show their CNICs to registered sales tax retailers. Later, the full implementation of this ruling was officially delayed till January 1 this year. Through its rollout, the board intends to document business transactions and facilitate the taxation authorities to check fraudulent transactions and identify unregistered retailers.
In a similar vein, the PM directed the FBR in September to keep a record of its formal interactions with traders to counter any instances of corruption.