{"id":58042,"date":"2019-11-27T14:22:28","date_gmt":"2019-11-27T09:22:28","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=58042"},"modified":"2019-11-27T14:22:28","modified_gmt":"2019-11-27T09:22:28","slug":"fbr-committed-bringing-undocumented-smes-tax-net-zaidi","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-committed-bringing-undocumented-smes-tax-net-zaidi.html","title":{"rendered":"FBR committed to bringing undocumented SMEs into tax net: Zaidi"},"content":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) is committed to bringing the undocumented Small &amp; Medium Enterprises (SMEs) into the national tax net, a news source quoted FBR Chairman Shabbar Zaidi as saying.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/fbr-proposes-schemes-bring-retailers-into-tax-net.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR proposes schemes to bring retailers into tax net<\/a><\/p>\n<p>The FBR chairman was speaking at an \u2018Innovative Finance Forum\u2019 organised by the Asian Development Bank (ADB) as part of its collaborative effort with Karandaaz Pakistan and Gates &amp; Melinda Foundation.<\/p>\n<p>Zaidi stated that they were going to <a href=\"https:\/\/www.zameen.com\/news\/broadening-tax-net-fbr-sign-mou-pitb.html\" target=\"_blank\" rel=\"noopener noreferrer\">expand the tax net<\/a> by adding SMEs not paying their taxes through the recently launched documentation campaign. He added that incumbent government was committed to promoting economic activity because their slowdown would prevent achieving the tax collection target.<\/p>\n<p>The FBR chairman revealed that businesses were growing but the balance sheets and wealth statement remained stagnant. He said that there was lack of trust between SMEs and taxpersons. He added that the undocumented SMEs would become unable to access facilities like land, electricity and gas for running their operations, along with losing access to credit from the banking sector.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/secp-approves-listing-rules-smes.html\" target=\"_blank\" rel=\"noopener noreferrer\">SECP approves listing rules for SMEs<\/a><\/p>\n<p>Zaidi said that FBR was planning to develop separate tax laws for the SME sector to make registration for the tax system simpler and easier. He added that they would simplify laws pertaining to sales tax, income tax, customs duty, and federal excise duty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) is committed to bringing the undocumented Small &amp; Medium Enterprises (SMEs) into the national tax net, a news source quoted FBR Chairman Shabbar Zaidi as saying. Read:\u00a0FBR proposes schemes to bring retailers into tax net The FBR chairman was speaking at an \u2018Innovative Finance Forum\u2019 organised by the Asian Development Bank (ADB) as part of its collaborative effort with Karandaaz Pakistan and Gates &amp; Melinda Foundation. Zaidi stated that they were going to expand the tax net by adding SMEs not paying their taxes through the recently launched documentation campaign. He added that incumbent government was committed to promoting economic activity because their slowdown would prevent achieving the tax collection target. The FBR chairman revealed that businesses were growing but the balance sheets and wealth statement remained stagnant. He said that there was lack of trust between SMEs and taxpersons. He added that the undocumented SMEs would become unable to access facilities like land, electricity and gas for running their operations, along with losing access to credit from the banking sector. Read:\u00a0SECP approves listing rules for SMEs Zaidi said that FBR was planning to develop separate tax laws for the SME sector to&hellip;<\/p>\n","protected":false},"author":68,"featured_media":22258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[14142],"persona":[],"class_list":{"0":"post-58042","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-fbr-committed-to-bringing-undocumented-smes-into-tax-net-zaidi"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR committed to bringing undocumented SMEs into tax net: Zaidi - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) is committed to bringing the undocumented Small &amp; Medium Enterprises (SMEs) into the national tax net, a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-committed-bringing-undocumented-smes-tax-net-zaidi.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR committed to bringing undocumented SMEs into tax net: Zaidi - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) is committed to bringing the undocumented Small &amp; 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