Wed. May 22nd, 2024
Tajir Dost SchemeTajir Dost Scheme

Last Updated on: 10th April 2024, 03:47 pm

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Maryam Nawaz’s ‘Tajir Dost Scheme’ has drawn attention from the business community, especially traders, wholesalers, and small retailers. Implemented by the Federal Board of Revenue (FBR), the scheme is designed to promote tax compliance among businesses. Yet, there are criticisms from businessmen questioning its effectiveness and implementation.

What do you mean by the Tajir Dost Scheme:

The Tajir Dost Scheme (TDS), introduced by Maryam Nawaz Sharif and the FBR, aims to register traders, wholesalers, and small retailers in the tax system, aiming to enhance tax registration and revenue generation.

Challenges Raised by the Entrepreneurial Community:

Rana Tariq Mehboob, Chairman of the Chainstore Association of Pakistan (CAP), and Asfandyar Farrukh, Co-founder of CAP, expressed concerns about the effectiveness and implementation of a certain scheme. They represent Tier-1 retail enterprises contributing 90% of taxes in the retail sector, but have encountered an uneven playing field in the last five years.

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Issues with the Tajir Dost Scheme:

Mehboob and Farrukh raised concerns regarding the Tajir Dost Scheme, highlighting the lack of comprehensive consultation with stakeholders before its implementation. They emphasized the necessity of a sustainable roadmap to garner stakeholder confidence and promote awareness through citywide campaigns. Additionally, they criticized the unrealistic revenue targets set by the scheme, deeming them unattainable without addressing fundamental issues. The flawed policies and absence of stakeholder involvement have left businessmen disillusioned, risking alienation of the intended beneficiaries of the scheme.

Understanding the Tajir Dost Scheme:

The Tajir Dost Scheme, led by Maryam Nawaz Sharif and the FBR, focuses on enrolling traders, wholesalers, and small retailers into the tax system.

Maryam Nawaz Launced 'Tajir Dost Scheme' for Entrepreneurs

How to Address Scheme Shortcomings:

The scheme’s shortcomings need to be addressed through thorough consultation with stakeholders and the creation of a sustainable implementation plan.

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Final Thoughts:

Maryam Nawaz’s ‘Tajir Dost Scheme’ aims to improve tax compliance among traders and retailers, but its success hinges on addressing business community concerns through comprehensive consultation. Policymakers must engage stakeholders and develop realistic strategies for achieving the scheme’s objectives effectively.

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