Traders offered 1% tax scheme

Tax officials said on Tuesday that the FBR has opened a streamlined return filing facility aimed at small traders. Under it, a 1 per cent levy applies to turnover, but the minimum liability is Rs25,000, according to The Express Tribune.

Speaking at a session held at the Karachi Chamber of Commerce and Industry, Member Inland Revenue Zubair Bilal called the measure one of the most generous trader-oriented tax steps in decades. He encouraged shopkeepers to join the formal system of their own accord, saying he had seen many earlier schemes over his 31 years in service. Bilal argued that coercion would not bring traders into the net on a lasting basis.

Chief Commissioner Inland Revenue Fiza Batool separately briefed the Lahore Chamber of Commerce and Industry on SRO 1166(I)/2026, which covers businesses with annual turnover up to Rs200 million. Eligible firms would be exempt from Point of Sale integration, digital invoicing and routine audits, and registered shopkeepers will receive a green plate for inspection purposes. LCCI President Faheemur Rehman Saigol welcomed the scheme as a long-standing chamber demand, adding that participation remains optional.