Tajir Dost Scheme
The federal government has significantly broadened the scope of the Tajir Dost Scheme, extending its reach to 42 new cities across Pakistan.
This expansion aligns with the conditions set by the International Monetary Fund (IMF) as part of the government’s commitment to economic reform.
Initially, the Tajir Dost Scheme was operational only in six major cities. However, it has now been extended to include a diverse range of urban and rural areas.
The newly added cities are Abbottabad, Attock, Bahawalnagar, Bahawalpur, Chakwal, Dera Ismail Khan, Faisalabad, Ghotki, Gujarat, Gwadar, Hafizabad, Haripur, Hyderabad, Islamabad, Jhang, Jhelum, Karachi, Kasur, Khushab, Lahore, Larkana, Lasbela, Lodhran, Mandi Bahauddin, Mansehra, Mardan, Mirpurkhas, Multan, Nankana, Narowal, Peshawar, Quetta, Rahim Yar Khan, Rawalpindi, Sahiwal, Sargodha, Sheikhupura, Sialkot, Sukkur, and Toba Tek Singh.
The Federal Board of Revenue (FBR) has issued a notification regarding the new Tajir Dost Special Services Rules 2024.
These rules are designed to enhance trader registration and compliance by introducing a structured framework for tax collection.
Under the expanded scheme, registered traders will be required to pay a monthly advance tax ranging from Rs100 to Rs1,000.
The specific tax amount will be determined based on the fair market value of their commercial properties, which the FBR will independently assess.
This new approach aims to make the tax process more transparent and equitable by ensuring that taxes are aligned with the actual market value of properties.
The expansion of the Tajir Dost Scheme is a strategic move by the government to stimulate economic activity, improve tax compliance, and meet the reform benchmarks set by the IMF.
By bringing a larger number of traders into the formal economy, the government hopes to contribute to overall economic stability and growth, addressing key fiscal and regulatory challenges.
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