FBR has launched a new service in Tax Asaan App named Tajir Dost Scheme. This scheme was more tailored towards unregistered businesses in Pakistan to be documented and declare their assets/income. This article will guide you on everything that a business owner needs to know before registering for Tajir Dost Scheme if not registered previously.
| Feature | Details |
| Scheme Name | Tajir Dost Scheme |
| App Required | Tax Asaan |
| Target Audience | Unregistered businesses |
| Benefits | Reduced tax rates, simplified procedures |
What is the Tajir Dost Scheme?
The Tajir Dost Scheme is a voluntary tax compliant program which was introduced by the FBR to facilitate those businesses/oon registered persons who had not been declared their assets and earnings in order to bring them into the income tax net. This Scheme has the primary aim of widening tax net i.e. more businesses comes under taxable category which help in increase Economic growth. The Tajir Dost Scheme is equipped with some advantages both for the business owners like low tax rates, friendly mechanism of operating procedure and making things easier and compatible in accordance to fulfill the demands provided by IRS.
Key Benefits of the Tajir Dost Scheme
Decrease Tax Rates: If companies get registered under this scheme, they will be able to enjoy lesser tax rates.
Ease of Compliance: The scheme significantly reduces the compliance burden for businesses and thus, makes it easy to comply with the tax rules.
Growth of the economy: Companies are governments base its taxes on, growing the number registered business plays a key role in advancing the nation economically.
Legitimate: Register under this scheme allows the company to avoid legal problems arising from operating informally.
Tajir Dost Scheme Eligibility
Tajir Dost is largely aimed at the undocumented business community of Pakistan. While the official qualification criteria are not yet available, we could probably guess that the grant will be targetted at some businesses. Some examples of businesses that may be eligible:
Retail: Tier 1 This slabs in this category include the small, unregistered shopkeeper or retailer.
Wholesalers: These are businesses who sell products in bulk to other companies or retailers.
Service Providers: Companies That Do Repairs, Consulting Or Other Services
These are urged to sign up with the scheme so they can declare their assets and income, taking advantage of reduced tax rates and simplicity in procedures.
How to Register for the Tajir Dost Scheme?
One of the most convenient options available to register for Tajir Dost Scheme is using FBR’s Tax Asaan app. This is how you can approach it — A guide line by guideline.
Step 1: Download the Tax Asaan AppFirstly download the tax asan app from google play store or apple app TutorialsMinistry Store.
Launch the App: After you download and install it on your mobile, then open it.
Selecting the Option “Tajir Dost Scheme”: You have to choose the option of Tajir Dost scheme from App. It could possibly be highlighted all over since they just rolled a new feature out.
Follow On-Screen Instructions Instead: After selecting the Tajir Dost Scheme option, do not follow all this. You must enter relevant details like your ID Card number and Mobile Number.
Fill the Registration Form: When you fill all details wrt and submit it.
With help of the above steps you will easily be able to apply for Tajir Dost Scheme and take benefit from it.
Must-Register Cities in Pakistan for the Tajir Dost Scheme
Only the key city registration under Tajir Dost scheme is mandatory in Pakistan. So, if your business comes under these cities then you do need to get yourself register this scheme. Here is a list of some cities where registration is mandatory:
Lahore
Karachi
Islamabad
Faisalabad
Peshawar
Quetta
Multan
Rawalpindi
Since they are the main financial centers in Pakistan, businesses working here now have to legally register under Tajir Dost Scheme by following tax regulations and paying taxes.
Conclusion
Tajir Dost Scheme of FBR is a great effort to get unregistered businesses documented and into the formal tax system. Therefore, businesses can cannot miss the opportunity to make their business compliant by availing all these benefits of reduced tax rates and simplified procedures that will be also going to contribute significantly in economic growth. Tax Asaan app is designed to be an easy way for the business owners who legally want their self under the banner of CMCRS and its benefits without going into any difficulty as shown during WhatsApp trials.
Also Read: Chief Minister Punjab Maryam Nawaz’s Important Programs for the Poor
FAQs
1. What is the Tajir Dost Scheme?
Tajir Dost Scheme is a voluntary tax compliance program by Federal Board of Revenue, designed to help unregistered businesses disclose their assets and income with the benefit of decreased rates or simplified procedures.
2. Tajir Dost Scheme Eligibility
The scheme is mainly intended to corporations including retail outlets, wholesalers, and service suppliers throughout Pakistan.
3. What are the terms to enter in Tajir Dost Scheme?
To register for the scheme, you need to download Tax Asaan app, click on Tajir Dost Scheme and enter information as asked.
4. Is registration under the Tajir Dost Scheme mandatory in all cities?
As of now not, this is a must to apply in some major cities of Pakistan like Lahore and Islamabad etc. This is mandatory if your business operates in any of these cities.