Tajir Dost Scheme: First Phase Focuses on New Taxpayer Registration

Federal Board of Revenue (FBR) has clarified that the initial phase of the Tajir Dost Scheme (Trader Friend Scheme) launched in April 2024 is primarily for registering new taxpayers.

Encouraging Registration Through Collaboration:

Zafar Iqbal Khan, Chief Commissioner Inland Revenue for the Peshawar region, emphasized the importance of tax collection for national development. He urged leaders of the trading community, like Malik Mehr Elahi (president of Tanzim-e-Tajirgan), to encourage retailers in their areas to register under the scheme.

Scheme Details and Incentives:

The registration period lasts until June 30, 2024. The scheme offers incentives for both existing non-filers and those registering for the first time:

• Existing non-filers can avail a 25% concession on monthly advanced tax payments for 2023.
• Those who deposit annual advance tax in a single installment and file tax returns can enjoy a 50% concession.
• Additionally, all taxpayers have the opportunity to receive a 25% discount on settling outstanding tax liabilities in full.

Consequences of Non-Registration:

The FBR warns that businesses failing to register during this phase might face legal proceedings, including cash penalties.

Transparency and Support:

Dr. Farooq Jamil, Commissioner Peshawar Zone, explained the scheme's benefits and distributed informational pamphlets to participants. Leaders from the trading community, like Malik Mehr Elahi, pledged their cooperation with the FBR. Open communication was encouraged, with the Chief Commissioner's team addressing concerns and questions from the participants.

This article was published at Pakistan’s Tajir Dost Scheme Encourages New Taxpayer Registration