{"id":59852,"date":"2020-01-16T12:41:07","date_gmt":"2020-01-16T12:41:07","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=59852"},"modified":"2020-01-27T05:59:27","modified_gmt":"2020-01-27T05:59:27","slug":"cnic-condition-on-traders-expected-to-go-into-effect-starting-feb-1","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/cnic-condition-on-traders-expected-to-go-into-effect-starting-feb-1.html","title":{"rendered":"CNIC condition on traders expected to go into effect starting Feb 1"},"content":{"rendered":"<p>Islamabad: Prime Minister (PM) Imran Khan is expected to announce concessions for the country\u2019s traders on January 20; while the business community, in response to the relief measures proposed by the government, may be directed to comply with the CNIC condition from February 1 onwards \u2013 a news source reported.<\/p>\n<p>All Pakistan Traders Union President Ajmal Baloch expressed his views on the matter. He said that the premier would announce several concessions for country\u2019s business community at a traders\u2019 convention \u2013 scheduled to take place on January 20.<\/p>\n<p>Read:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/pm-to-meet-traders-on-jan-20-announce-concessions-zaidi.html\" target=\"_blank\" rel=\"noopener noreferrer\">PM to meet traders on Jan 20; announce concessions: Zaidi<\/a><\/p>\n<p>He further stated that the executive had amended relevant laws to accommodate the demands put forth by the traders<\/p>\n<p>So far, the implementation of the CNIC condition has been deferred twice. Following the original announcement, the Federal Board of Revenue (FBR) had <a href=\"https:\/\/www.zameen.com\/news\/fbr-postpones-cnic-condition-for-traders-till-october.html\" target=\"_blank\" rel=\"noopener noreferrer\">deferred the policy until the end of September 2019<\/a> and then, after further negotiations, <a href=\"https:\/\/www.zameen.com\/news\/govt-postpones-cnic-condition-for-three-months-traders-end-strikes.html\" target=\"_blank\" rel=\"noopener noreferrer\">had stretched the deadline by January 31<\/a>.<\/p>\n<p>The concession conceded by the government and the FBR include an increase in electricity consumption threshold for sales tax registration; a reduction of minimum tax from 1.5 percent to 0.5 percent. Moreover, traders with an annual turnover of PKR 100 million or less will not be required to operate as withholding agents.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Prime Minister (PM) Imran Khan is expected to announce concessions for the country\u2019s traders on January 20; while the business community, in response to the relief measures proposed by the government, may be directed to comply with the CNIC condition from February 1 onwards \u2013 a news source reported. All Pakistan Traders Union President Ajmal Baloch expressed his views on the matter. He said that the premier would announce several concessions for country\u2019s business community at a traders\u2019 convention \u2013 scheduled to take place on January 20. Read:\u00a0PM to meet traders on Jan 20; announce concessions: Zaidi He further stated that the executive had amended relevant laws to accommodate the demands put forth by the traders So far, the implementation of the CNIC condition has been deferred twice. Following the original announcement, the Federal Board of Revenue (FBR) had deferred the policy until the end of September 2019 and then, after further negotiations, had stretched the deadline by January 31. The concession conceded by the government and the FBR include an increase in electricity consumption threshold for sales tax registration; a reduction of minimum tax from 1.5 percent to 0.5 percent. Moreover, traders with an annual turnover of PKR&hellip;<\/p>\n","protected":false},"author":57,"featured_media":34938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[15007],"persona":[],"class_list":{"0":"post-59852","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-cnic-condition-on-traders-expected-to-go-into-effect-starting-feb-1","9":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CNIC condition on traders expected to go into effect starting Feb 1 - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Prime Minister (PM) Imran Khan is expected to announce concessions for the country\u2019s traders on January 20; while the business community, in\" \/>\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\/cnic-condition-on-traders-expected-to-go-into-effect-starting-feb-1.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CNIC condition on traders expected to go into effect starting Feb 1 - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Prime Minister (PM) Imran Khan is expected to announce concessions for the country\u2019s traders on January 20; while the business community, in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/cnic-condition-on-traders-expected-to-go-into-effect-starting-feb-1.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-16T12:41:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-27T05:59:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2018\/02\/goP.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Muhammad Farhad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Farhad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CNIC condition on traders expected to go into effect starting Feb 1 - Zameen News","description":"Islamabad: Prime Minister (PM) Imran Khan is expected to announce concessions for the country\u2019s traders on January 20; 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