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ISLAMABAD: The government is mulling over different proposals to bring millions of retailers into the tax net by offering them a fixed and final tax rate scheme in the upcoming budget.
FBR may announce special scheme for retailers
National
May 24, 2021
ISLAMABAD: The government is contemplating different options to announce a special scheme for retailers for the imposition of reduced rate of General Sales Tax (GST) in the range of 5 to 7 percent to bring millions of shopkeepers into the tax net.
The budget makers for 2021-22 have proposed different options whereby the ongoing scheme of Point of Sale (POS) would be expanded to all the major cities. The government had placed the reduced GST rate of 12 percent for POS integrated branded shopkeepers. Now the government wants to move ahead to bring the retailers at large into the tax net. The government had envisaged target to connect 10,000 branded shopkeepers with the POS system but now it would be increased in gradual manner up to 50,000 and then 100,000.