The government on Saturday imposed a new tax on traders.

The Federal Board of Revenue (FBR) has issued a notification of the Trader Friendly Special Procedure 2024.

According to the notification, the Trader Friendly Special Procedure will be applicable to traders and shopkeepers.

Registration of traders and shopkeepers under the scheme will begin from April 1.

The first collection of monthly advance income tax will start from July 15, 2024. Advance income tax will be collected on the 15th of every month after July 15.

According to the notification, the scheme will be applicable to small traders, shopkeepers, wholesalers, retailers, manufacturers-cum-retailers and importer-cum-retailers.