FBR begins drive to bring wholesalers, traders into tax net

The Federal Board of Revenue (FBR) has announced the commencement of a sweeping registration drive under the Tajir Dost Scheme, designed to integrate traders and wholesalers into the formal tax framework by April 30. Scheduled to start on April 1, this initiative facilitates free registration and extends a variety of tax-related benefits to incentivise participation. The FBR has warned that failure to register voluntarily by the deadline will trigger automatic enrolment and the imposition of stringent fines. A notification — SRO 457 of 2024 — issued on Saturday notified the special procedures of the Tajir Dost Scheme. According to the FBR estimates, the initiative will generate about Rs400 billion to Rs500 billion in additional revenue annually.