CNIC must for purchases Rs50,000 and above

CNIC becomes mandatory for purchase of Rs 50, 000 or above

The condition of CNIC becomes mandatory for the purchases of Rs 50, 000 and above from February 01. The FBR delayed the implementation of this condition after the country wide shutter down strike of traders. Now the relaxation period has expired. Everybody making purchases Rs 50,000 or above is bound to present photocopy of CNIC to the shopkeeper. The females can present copies of their male relatives.

FBR is hopeful that this condition would bring more people into tax net.  This condition is part of a  major drive to document the economy. The FBR met strong resistance from traders for the implantation of this condition. FBR was forced to postpone the implementation twice.

Now the situation seems different. The traders are no more resisting the implementation of this condition. All Pakistan Anjuman-e-Tajran President Ajmal Baloch told media that the mandatory condition was not a hurdle to the owners of small businesses and as such the association had no reservations about withdrawal of the relaxation and fully supported it.

He said the association’s agreement with the FBR had also come into force after which all problems faced by the owners of small businesses had been resolved. He added that notifications for the formation of committees comprising representatives of the business community had also been released after which the FBR and traders would join hands for the registration of businesses to ensure that they became part of the tax net.
                                                            Rukhsana Manzoor

No comments

Note: Only a member of this blog may post a comment.

Powered by Blogger.