Govt mulls bringing small, medium retailers into tax net

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Photo: File ISLAMABAD: The government is mulling over options to bring millions of small and medium retailers into the tax net by introducing a reduced fixed sales tax rate as well as decreasing the minimum turnover tax from 1.5% to 0.5% in budget 2020-21, reported The News on Sunday. One tax expert suggested to the government that the retailers should be incentivised in such a way that a portion of collected taxes from an area should be utilised on its development.

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