LCCI wants facilitation to businesses for economic well-being

Lahore Chamber of Commerce & Industry (LCCI) delegation led by its Acting President Tanveer Ahmed Sheikh called on Chief Commissioner Regional Tax Office (RTO) Lahore-II Fiza Batool here on Thursday.
LCCI Vice President Khurram Lodhi was also present during the meeting.
The meeting focused on the newly introduced Special Fixed Tax Scheme for small retailers, measures to simplify the tax system, the jurisdiction of RTO Lahore-II, strengthening cooperation between the Federal Board of Revenue (FBR) and the business community.
Acting President Tanveer Ahmed Sheikh thanked Chief Commissioner Fiza Batool and said that the introduction of a simplified one-page income tax return for small traders and retailers had been a long-standing demand of the Lahore Chamber. He termed the initiative a highly commendable step that would simplify tax compliance, reduce the cost of doing business, encourage voluntary tax compliance, and bring a larger number of small businesses into the documented economy.
He said, the LCCI would extend its full cooperation to the FBR by launching an awareness campaign among the business community regarding the new scheme and encouraging traders to benefit from it. He added that the Chamber has always worked closely with the FBR and the Income Tax Department to promote tax awareness, improve tax culture, and facilitate businesses.
Speaking on the occasion, Chief Commissioner RTO Lahore-II Fiza Batool gave a detailed briefing on the Special Fixed Tax Scheme for small retailers and the jurisdiction of RTO Lahore-II. She said that eligible retailers with an annual turnover of up to Rs. 200 million would be able to avail themselves of the scheme by paying only one percent income tax on their total annual turnover.
She said that traders would be able to register through the IRIS portal, the FBR mobile application, or their nearest tax office. To qualify for the scheme, a minimum tax payment of Rs. 25,000 would be required. Registered retailers would be exempt from routine income tax audits and would be able to file simplified income tax returns in Urdu as well as other regional languages.
Fiza Batool further stated that the FBR would issue a special Green Plate to every registered retailer, displaying a QR code, NTN, and shop details. The Green Plate would serve as official proof of FBR registration, and tax officials would not be able to enter registered shops for unnecessary tax actions. She added that the establishment of RTO Lahore-II would enable taxpayers to receive improved services, faster facilitation, and a more efficient tax administration.