Summary Business leader praises consultation with trade bodies
LAHORE (Dunya News) – Patron-in-Chief of the United Business Group SM Tanveer has described the government’s newly introduced fixed tax scheme for shopkeepers as a positive and timely initiative aimed at strengthening the country’s tax framework.
He extended congratulations to Federal Minister for Finance Muhammad Aurangzeb and Minister of State for Finance and Revenue Bilal Azhar Kiyani, acknowledging their role in advancing what he termed a “game-changing” reform developed through close consultation with trade and business organisations.
Tanveer noted that the initiative represents a significant step towards expanding Pakistan’s national tax base. He said the policy reflects sustained engagement with trader associations and stakeholders, ensuring that concerns of the business community were incorporated into its design.
Pakistan introduces fixed tax scheme for small shopkeepers to broaden tax net
Under the scheme, shopkeepers and small traders with an annual turnover of up to Rs20 million (20 crore) will pay a fixed income tax rate of 1 per cent. The measure is intended to simplify compliance and provide greater clarity for small businesses operating within the formal economy.
Tanveer also welcomed the provision allowing deductions of withholding tax for traders, describing it as a supportive step towards easing operational pressures on small businesses. He further congratulated trader representative Ajmal Baloch on what he described as successful negotiations that contributed to the finalisation of the scheme.
