Pakistan calls for restraint amid rising Iran-US tensions
2026-07-16 07:09:18
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
2026-07-15 11:37:04
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.
No criticism against the Pakistan Army will be tolerated, says Bilawal.
2026-07-15 10:19:37
Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari has stated that criticism of the Pakistan Army will not be tolerated, urging political leaders to watch their words carefully.
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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.
”ReadPakistan 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.
”Read