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Merchants are exempt from providing asset, account details

Islamabad: The government on Wednesday issued a simple bilingual tax return form for traders and exempted them from providing details of assets and bank accounts, as it launched consultations to give them more concessions after a nationwide strike by traders. The Federal Board of Revenue (FBR) has released a three-page draft income tax return for the tax year 2024 onwards for those traders who had not filed in the previous year. The form will be finalized after seven days. The return form still contains 34 questions, but these are general in nature and do not require specific details about assets