Islamabad, In an effort to increase tax revenue and bring more traders into the formal economy, the Federal Board of Revenue (FBR) has launched the Tajir Dost Scheme (TDS).

According to Zameen.Com, the FBR's new initiative targets increasing compliance among non-registered retailers by proposing a 10% withholding tax for those outside the formal tax system. This measure aims to encourage registration and ensure a broader tax base, which could significantly enhance the government's annual tax revenue.

The scheme has already gained considerable interest from the trading community, with hundreds of traders reportedly eager to participate. The FBR is focusing on making the registration process simpler and more transparent to support small businesses and address any concerns that may arise, ensuring the scheme's effectiveness through collaboration with various stakeholders.