BREAKING NEWS! What is the “Tajir Dost Scheme”? Who will be able to register for this scheme in 2024?

The objective of the Tajir Dost Scheme 2024, introduced by the Federal Board of Revenue (FBR) in Islamabad, is to include small retailers and traders in the tax system. The government's aim to increase revenue generation and formalize businesses across the country is aligned with this initiative.

Register of Merchants and Traders

The plan requires registration of all traders and merchants operating from fixed business premises, including offices, warehouses, shops and similar places within civil limits, including cantonments. From April 1, 2024, merchants will be able to register.

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Presentation in 6 cities

The program has potential to grow after being introduced in six major cities: Islamabad, Rawalpindi, Karachi, Lahore, Quetta and Peshawar. Monthly advance tax payments under the Tajir Dost Scheme will commence on 1 July 2024, with the first payment due on 15 July 2024. The FBR web portal or the Tajir Dost module will generate a Payment Receipt ID ( PSID), which can be used to make convenient payments through a dedicated IT system. Subsequent payments are scheduled for the 15th of each subsequent month, according to a private news network.

Fiscal Facilitation Centers of the FBR in 2024

If you want to register, the FBR Tax Facilitation Centers are the place to go. April 30 is the deadline to register for the program. According to the notification, eligible persons who do not apply for registration will be registered under the scheme by the Commissioner of Finance.

The Portal of the FBR

They can also submit a registration request through the website of the Federal Revenue Board.

Note

For the registration and minimum payment of advance tax, the Tajir Dost scheme, 2024 will apply to traders and merchants who operate through a fixed place of business such as a shop, store, warehouse, office or similar physical place located within the civil limits territorial including cantonments in Karachi, Lahore, Islamabad, Peshawar, Quetta and Rawalpindi.

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Frequently asked questions

In which 6 cities does the Program start?

The names of the cities are Karachi, Lahore, Islamabad, Peshawar, Quetta and Rawalpindi.

What is the scheme requirement?

The plan requires registration of all traders and merchants operating from fixed business premises, including offices, warehouses, shops and similar places within civil limits, including cantonments.