MARDAN: The Regional Tax Office Mardan has launched a special awareness campaign to inform small traders and shopkeepers about the Federal Board of Revenue’s (FBR) easy tax scheme.
The campaign has been launched on the instructions of Commissioner Mardan Zone Shaukat Hayat and Additional Commissioner Muhammad Tariq, according to a press release issued by the Regional Tax Office.
Commissioner Shaukat Hayat said eligible shopkeepers with annual sales of up to Rs200 million can benefit from the scheme. Under the programme, tax is calculated at 1% of annual sales, while the minimum tax payable is set at Rs25,000.
The scheme also provides a simplified one-page tax return form in Urdu and regional languages to make filing easier for small traders.
The Regional Tax Office has urged eligible shopkeepers to take advantage of the facility, join the formal tax system and fulfil their legal tax obligations.
According to the tax authorities, traders participating in the scheme are protected from general audits, while the requirement to act as withholding agents has also been removed.
Compliant shops will be provided with a green plate displaying a QR code, which authorities say will help protect them from routine inspections by tax officials.
The commissioner clarified that participation in the scheme is entirely voluntary. Shopkeepers can either opt for the special tax scheme or continue filing their income tax returns under the existing system.