The implementation of the “Tajir Doost” mobile phone application by the Federal Board of Revenue (FBR) is designed to streamline the registration and documentation process for retailers and shopkeepers in Pakistan. The application serves as a platform for retailers to register themselves with the FBR, providing necessary information such as shop size, electricity meter number, and other basic details.
One significant aspect of this initiative is the calculation of a retailer’s tax liability based on the FBR’s property valuation and rental value of shops. This approach aims to ensure fairness and transparency in tax assessment, aligning the tax payment with the business’s physical and operational parameters.
Furthermore, the FBR has introduced a beneficial incentive for retailers who voluntarily register themselves under this scheme. Such retailers will receive a 50 percent reduction in their tax payment, which serves as an encouragement for wider participation in the formalization process.
It is important to note that all kinds of retailers are required to register with the FBR through the “Tajir Doost” mobile app. This includes retailers operating on social media platforms such as Instagram, which have become increasingly popular for online retail businesses. By encompassing all types of retailers, the FBR aims to create a comprehensive and inclusive system of documentation and taxation.
The introduction of the “Tajir Doost” mobile application for retail documentation represents a significant step towards the formalization of the retail sector in Pakistan. It offers a convenient and accessible platform for retailers to register themselves and benefit from reduced tax liabilities. This initiative not only promotes financial transparency and accountability but also contributes to the growth of the formal economy and facilitates a fair playing field for businesses across the country.