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The federal government has extended the pro-business program to 42 cities to meet the conditions set by the International Monetary Fund (IMF).
The program has now expanded from six major cities to 42 cities across the country.
The Federal Board of Revenue (FBR) has issued a notification detailing the new Tajir Dost Special Services Rules 2024 to improve dealer registration and compliance.
Initially limited to six major cities, the scheme now includes 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, Sialkot, Sialkot, Sialkot Singh.
Registered traders under the scheme will now have to pay a monthly advance tax ranging from Rs 100 to Rs 1,000. The exact amount of tax will be determined based on the fair market value of their businesses, which will be assessed by the FBR.
FBR will independently determine the fair market value of trades to ensure a transparent and fair tax process. The move aims to streamline tax collection and encourage formalization within the business community.
The expansion of this scheme is a strategic effort by the government to boost economic activity, improve tax compliance and meet the IMF’s reform criteria. The inclusion of more cities is expected to bring more traders into the formal economy, contributing to overall economic stability and growth.
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