The Federal Board of Revenue (FBR) has announced a big tax relief for businessmen.
As per the notification issued on Tuesday, tax relief meant reduction in the amount of tax.
The notification stated that a shopkeeper, who would connect his cash counter to the FBR, would get the relief.
It further stated that the relief would be granted only on the exact price of the machine and the expenditures incurred on its installation.
It went on to say that in the event of a discount or subsidy, the amount would be deducted from the relief granted.
The notification read that the relief would not apply to repair, service, expenditures incurred on internet, electricity and salaries.
The FBR said that the relief would not be granted on the same machine twice, and that the relief sought would have to be mentioned in the same year’s tax return.
The notification made it obligatory on businessmen to present proof of the payment made for the installation of the machine in the same year in which the machine was installed.
