Rs32.5m collected under fixed tax

According to The Express Tribune, the government had collected Rs32.5 million under the new fixed tax scheme for shopkeepers by Friday, far short of the annual target of Rs50 billion. Minister of State for Finance Bilal Azhar Kayani reviewed the scheme that day, and officials told him 428 traders had submitted returns, yet only three of them were newly joined. The finance ministry said 1,929 new traders had registered, and Kayani hopes around 9,800 traders, including the new registrants, will file by September 30.

Trade leaders were asked to help spread awareness, while their representatives blamed the FBR and complained about online filing. Kayani directed the tax authority to resolve technical objections and quickly issue FBR plates to shopkeepers who have filed. Under the scheme, traders pay 1% tax on turnover rather than the 35% paid by salaried individuals, and they are exempt from audit, while late filers face penalties of Rs10,000 in the first month after the deadline, rising to Rs25,000 and Rs50,000 in later months, the finance ministry said.