The Federal Board of Revenue (FBR) is making strides in getting Pakistan’s retailers on board with the Tajir Dost Scheme, and the numbers are climbing! As of now, 9,290 Tier-1 retailers have registered, showing the potential of this initiative to modernize Pakistan’s retail tax system. Let’s break down the latest stats and what they mean for businesses and consumers.
📊 FBR Tajir Dost Scheme: Key Milestones
- Total Registered Retailers: 9,290 (as of October 2024)
- New Retailers in October: 160 large retailers added to the Point of Sales (POS) system.
- Industry Breakdown:
- Restaurants: 676 now registered under POS 🍽️
- Leather & Textile Retailers: 507 registered 👗👜
🏪 What is the Tajir Dost Scheme?
The Tajir Dost Scheme is designed to bring Tier-1 retailers into the formal tax net through the integration of POS systems. This helps streamline tax payments, create transparency, and improve tax collection from the retail sector.
💡 Current Challenges: Tax Collection
Despite the growing registration, tax payments remain low. Here’s a snapshot of the current situation:
- Tax Collected So Far: Rs. 1.3 million.
- Active Shops Contributing: Only 575 shops out of approximately 64,000 FBR-registered outlets.
This highlights a gap between registration and active participation in tax payments, suggesting the need for more incentives or better enforcement.
📈 Why Retailers Should Get On Board
For Tier-1 retailers, joining the POS system isn’t just about complying with regulations. It’s about:
- Building trust with customers through transparency 🏷️
- Streamlining business operations with modern, digital tools 💻
- Contributing to national development by improving tax collection 🏛️
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