Talks between government, business community gone successful
Talks between the government and business community on Wednesday on the implementation of a sales tax and on the condition of an identity card were successful.
The government has agreed to delay any action for three months on the earlier condition that presentation of a CNIC copy for buying and selling of goods up to Rs50,000 is mandatory.
The All Pakistan Association of Traders said that the sale process on the condition of identification card has been postponed till January 31.
Both sides have further agreed that traders with annual sales of up to Rs100 million will be excluded from the list of the withholding agents.
Furthermore, only those businessmen and traders with electricity bill equal to or more than Rs1.2 million annually will be required to get included with the sales tax registration.
It has also been decided to provide new registration and tax return forms in the Urdu language.
Earlier, the FBR proposed that the small shopkeeper will pay only 2% of turnover as tax or a fixed tax of Rs20,000 to Rs40,000 whichever is higher.
Against 2% tax, the traders had demanded only 0.1% turnover tax and to set the turnover limit at Rs100 million per annum for a small shopkeeper.
All major groups of traders had sought to bring trade and economic activities across the country to a standstill for building pressure on the government to change its certain policies.
Traders had warned expanding the protest if the conditions, including presenting a CNIC copy for buying and selling goods up to Rs50,000 is not withdrawn.
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