ISLAMABAD — The Federal Board of Revenue (FBR) has finalized a comprehensive “Small Taxpayers Guidance System” set to be formally rolled out in the upcoming federal budget. Tailored explicitly for small traders and shopkeepers with an annual turnover of up to Rs20 million, the voluntary scheme introduces simplified registration criteria through the IRIS web portal and mobile applications. The landmark policy aims to drastically widen the national tax net by offering significantly reduced tax rates and lower audit probabilities, encouraging informal retail businesses to transition smoothly into the formal digital economy.
