LAHORE (special crosspondent) – A delegation from the Lahore Chamber of Commerce & Industry (LCCI), led by Acting President Tanveer Ahmed Sheikh, held a high-level meeting with Chief Commissioner Regional Tax Office (RTO) Lahore-II, Fiza Batool, to discuss vital reforms in the national tax structure. The meeting, which also included LCCI Vice President Khurram Lodhi, centered on the implementation of the newly introduced Special Fixed Tax Scheme for small retailers, initiatives to simplify the national tax system, and strengthening collaborative efforts between the Federal Board of Revenue (FBR) and the broader business community.

LCCI Welcomes Simplified Tax Compliance

During the proceedings, Acting President Tanveer Ahmed Sheikh lauded the introduction of a simplified one-page income tax return for small traders and retailers, a long-standing demand of the LCCI. Sheikh described the initiative as a landmark step that will significantly reduce the cost of doing business, foster a culture of voluntary tax compliance, and integrate a larger segment of small enterprises into the documented economy. He pledged the Chamber’s full support in launching comprehensive awareness campaigns to encourage traders to participate in the scheme, emphasizing the LCCI’s commitment to facilitating economic well-being through consistent engagement with tax authorities.

Details of the Special Fixed Tax Scheme

Chief Commissioner Fiza Batool provided a detailed briefing regarding the operational parameters of the Special Fixed Tax Scheme. She confirmed that retailers with an annual turnover of up to Rs. 200 million are eligible for the scheme, requiring only a one percent income tax payment based on their total annual turnover. Batool highlighted the ease of access for taxpayers, noting that registration can be completed via the IRIS portal, the FBR mobile application, or at local tax offices, with a minimum payment threshold of Rs. 25,000.

Green Plates to Ensure Retailer Security

A significant highlight of the new regulatory framework is the introduction of a special ‘Green Plate’ for all registered retailers. These plates will display a QR code, the retailer’s National Tax Number (NTN), and shop details. Batool noted that the plate serves as official government certification, shielding registered shopkeepers from unnecessary interference or audits by tax officials. Furthermore, she mentioned that the establishment of RTO Lahore-II is designed to ensure more efficient tax administration and faster service delivery for the taxpayers, including the ability for retailers to file simplified returns in Urdu and other regional languages.