Islamabad: The Federal Board of Revenue (FBR) has unveiled new monthly tax rates for shops in Lahore, Karachi, Islamabad, and other major cities under the amended Tajir Dost Special Procedure, 2024. The updated tax structure aims to standardize and simplify the tax obligations for shop owners across these urban centers.

According to Zameen.Com, the revised rates have been set uniformly at PKR 60,000 for prime locations in all three cities, with some variations depending on the specific areas and floors of operation. For instance, in Islamabad's upscale Jinnah Super Market and the Ground Floors of Sector F-6's Super Market, shop owners are required to pay PKR 60,000. However, shops on other floors at the same location will be taxed PKR 30,000. Similar adjustments are visible in Karachi and Lahore, where central commercial areas like MA Jinnah Road and Shahalam Gate respectively also adhere to the PKR 60,000 rate, whereas less central locations like Montgomery Road in Lahore see a reduced rate of PKR 30,000.

The initiative reflects the government's effort to create a more equitable tax environment and ensure compliance with tax regulations, facilitating easier management and predictability for business owners. This move is part of broader fiscal reforms aimed at boosting local economies and increasing the government's tax base.