KARACHI: The Finance Bill 2022 has proposed a fixed income and sales tax for small-scale retailers ranging from Rs3,000 to Rs5,000 per month depending on the monthly electricity consumption. Federal Board of Revenue (FBR) may through a general order prescribe any persons or class of person who shall pay Rs50,000 per month through their monthly electricity bill.
“This fixed income and sales tax will be collected through the electricity bills, and it would be absolutely hassle free for the retailers,” Finance Minister Miftah Ismail spoke during this speech at the budget session in parliament. “An efficient registration and reporting will be introduced in this regard.”
Rs3,000 per month will be collected from retailers where the monthly electricity bill amount does not exceed Rs30,000 ; Rs5,000 per month tax will be charged where the monthly bill amount exceeds Rs30,000 but does not exceed Rs50,000; and Rs10,000 per month where the monthly bill amount exceeds Rs50,000 per month.
Finance Minister assured that this would be a full and final taxability, and FBR will ask any further questions.