In Rawalpindi Muhammad Farooq Chaudhry, president of the Restaurants, Caterers, Sweets and Bakers Association (RRCSBA), welcomed the Federal Government’s Fixed Tax Scheme as a practical move toward a simpler, more transparent and business-friendly tax system. He said the Fixed Tax Scheme will make compliance easier for small entrepreneurs and help bring many informal businesses into the formal economy.
Chaudhry noted that the scheme followed consultations with traders’ representative bodies and market associations, a step he described as commendable. He highlighted that the one percent fixed tax rate for businesses with annual sales up to Rs.200 million and the simplified one-page tax return form will provide tangible convenience to shopkeepers, restaurateurs and small manufacturers across the country.
He also welcomed the proposal to allow adjustment of previously paid withholding taxes, saying this would ease cash flow and reduce the administrative burden on small firms. Chaudhry emphasized that continued efforts to simplify rules and increase transparency under the Fixed Tax Scheme will not only improve tax collection but also promote documentation of the economy and voluntary participation in the tax net.
Paying tribute to Finance Minister Muhammad Aurangzeb and Minister of State for Finance Bilal Azhar Kayani for their work on tax reforms, Chaudhry urged that traders’ organizations remain part of future policy discussions. He expressed hope that the Fixed Tax Scheme will enhance the business climate, encourage investment and stimulate economic activity across Pakistan.
