The sheikh also announced that the government will create an exclusive cell at FBR, Islamabad, to immediately solve the problems of traders. The head of the cell will be a rank 21 or 22 officer, who will be in monthly contact with the merchants. It was the first meeting of the two sides since the plan to help merchants was announced by a presidential decree in December 2019. Current President Nausheen Amjad, IR Policy member Hamid Ateeq Sarwar and RETAIL DG Hameed Memon led the FBR team. Under the agreement, the government would not take disciplinary action against merchants who were not bought and sold on the basis of their CNIC until 31 January next year. 07. To resolve tax problems for entrepreneurs, an office will be set up immediately at the RBF headquarters. To solve dealer problems, a BS-20/21 officer is appointed. «There is no link between the strike and the Maulana march,» he said in a conversation with the scribe. «The key issues are resolved; the main obstacle to the success of the discussions was the lack of cooperation of certain elements of the RBF. On Thursday, the two sides also agreed in writing and without a spirit on a roadmap for the implementation of the agreement.
The tax benefits were offered in an october 30 agreement between the RBF and merchant representatives. It was decided that traders` representatives and RBF officers would meet on 24 January at the Islamabad/Rawalpindi regional office, 27 January in Karachi, 29 January in Multan, 30 January in Faisalabad and 31 January at the Von Lahore regional office. «Traders with annual sales of 100 million aff. 0.5% of sales instead of 1.5% and that the same traders would not become retainers,» the agreement continues. Meanwhile, businessman Khawaja Shafeek said in his speech to the government that traders were willing to pay taxes, but they faced some problems that needed to be solved. Meanwhile, Dr Hafeez Sheikh, an adviser to the Prime Minister of Finance and Finance, said at a press conference after the agreement that the government wanted to facilitate traders and promote business activities in the country, in line with the vision of Prime Minister Imran Khan. The names of all members of the commission have been handed over to the RBF and will soon be notified by the IRS, he said. Under the concession, the standard minimum tax rate was lowered from 1.5 per cent to 0.5 per cent when merchants achieved sales of up to 100 million champions in fiscal year 2020.
Under the agreement, a transaction of an area of one thousand square meters would be exempt from vat registration and any decision would be taken in agreement with the merchants. It was agreed that the committees would insures the initial turnover of merchants in response to the lower turnover rate. At least one indicative turnover must be agreed by the distributor committees. FBR is pleased to announce that the process of implementing the agreement with dealers will begin next week. Committees represented by traders in each region/market and covering the whole country are informed.