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NBTV Headlines News |
Pakistan calls for restraint amid rising Iran-US tensions
Pakistan’s Foreign Office has stated that tensions between Iran and the United States do not benefit anyone, urging both sides to show restraint.
During a weekly briefing, Foreign Office spokesperson Tahir Hussain Andrabi expressed Pakistan's concern over the renewed tensions and noted they are closely monitoring the situation in the region.
FBR introduces a fixed tax scheme for small traders
The Federal Board of Revenue (FBR) has introduced a fixed tax scheme framework for small traders. Owners of a single shop with an annual turnover of up to Rs200 million can benefit from this proposed regime.
According to the FBR notification, the scheme proposes a 1% tax on gross turnover. The government expects to generate over Rs50 billion annually if this initiative is successfully implemented.
The FBR stated that the scheme is voluntary, allowing traders to choose between the fixed tax regime and filing regular income tax returns. A minimum cash tax payment of Rs25,000 is mandatory. Owners of multiple shops, Tier-1 retailers, jewelers, and professional service providers are excluded from the scheme.
The tax authority has invited objections and suggestions on the draft within seven days. Eligible traders can register via the IRIS portal, the FBR mobile app, or their nearest tax office. Registered traders will be issued a "Green Plate."
Under this notification, FBR officials will not enter "Green Plate" shops for routine tax matters. Registered small traders will also be exempt from routine tax audits and will not need to install POS machines.
The notification also states that participants must provide details of their net profit, income from other sources, and total taxes paid. They will also need to disclose immovable property, bank balances, available cash, and other assets in the prescribed form.
Additionally, the FBR has introduced a simplified one-page tax return form for small traders. This form requires info such as business name, address, CNIC number, nature of business, annual sales, purchases, and business expenses.
According to the FBR, audits may still be conducted in cases involving unusual business activity or major asset purchases. The authority warned that legal action will be taken against anyone misusing the scheme or concealing info, and noted that it is authorized to act on data received from third-party sources.
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NBTV Sports News |
Pakistan secure the ODI series 2-1with a four-wicket victory over Australia in Lahore
Pakistan sealed the three-match One-Day International series against Australia with a commanding four-wicket victory in the third and final ODI at Gaddafi Stadium on Thursday, completing the chase with 49 balls to spare and clinching the series 2-1.
Australia beat Pakistan by 41 runs in second ODI to level the series
Nathan Ellis returned career-best figures of 4 for 33 from nine probing overs as Australia toppled Pakistan by 41 runs in the second ODI at Lahore's Gaddafi Stadium, keeping the three-match series alive.
NBTV Entertainment News |
Nadia Khan and Saima Akram Chaudhry clash online over social media posts
A war of words has broken out between prominent Pakistani host and actress Nadia Khan and playwright Saima Akram Chaudhry.
It began when Nadia Khan recently criticized actress Sajal Ali's performance in a drama scene. Saima Akram Chaudhry, highly upset by this criticism, took to Facebook to react, writing that Nadia desperately needs to see a psychologist.
Why did Saba Hameed divorce after 29 years?Wasim Abbas explains
Senior Pakistani actor Wasim Abbas has revealed why he and Saba Hameed divorced after 29 years of marriage.
Pakistan calls for restraint amid rising Iran-US tensions
2026-07-16 07:09:18Pakistan’s Foreign Office has stated that tensions between Iran and the United States do not benefit anyone, urging both sides to show restraint.
During a weekly briefing, Foreign Office spokesperson Tahir Hussain Andrabi expressed Pakistan's concern over the renewed tensions and noted they are closely monitoring the situation in the region.
FBR introduces a fixed tax scheme for small traders
2026-07-15 11:37:04The Federal Board of Revenue (FBR) has introduced a fixed tax scheme framework for small traders. Owners of a single shop with an annual turnover of up to Rs200 million can benefit from this proposed regime.
According to the FBR notification, the scheme proposes a 1% tax on gross turnover. The government expects to generate over Rs50 billion annually if this initiative is successfully implemented.
The FBR stated that the scheme is voluntary, allowing traders to choose between the fixed tax regime and filing regular income tax returns. A minimum cash tax payment of Rs25,000 is mandatory. Owners of multiple shops, Tier-1 retailers, jewelers, and professional service providers are excluded from the scheme.
The tax authority has invited objections and suggestions on the draft within seven days. Eligible traders can register via the IRIS portal, the FBR mobile app, or their nearest tax office. Registered traders will be issued a “Green Plate.”
Under this notification, FBR officials will not enter “Green Plate” shops for routine tax matters. Registered small traders will also be exempt from routine tax audits and will not need to install POS machines.
The notification also states that participants must provide details of their net profit, income from other sources, and total taxes paid. They will also need to disclose immovable property, bank balances, available cash, and other assets in the prescribed form.
Additionally, the FBR has introduced a simplified one-page tax return form for small traders. This form requires info such as business name, address, CNIC number, nature of business, annual sales, purchases, and business expenses.
According to the FBR, audits may still be conducted in cases involving unusual business activity or major asset purchases. The authority warned that legal action will be taken against anyone misusing the scheme or concealing info, and noted that it is authorized to act on data received from third-party sources.