FBR has notified that a copy of CNIC would be required in case of carrying out any transaction greater than PKR 50,000. The FBR has been trying to implement this policy for the past couple of months but could not do so due to pressure from different segments of the business society.
When FBR initially issued this policy, along with a 17% sales tax policy, traders started a nationwide shutter down strike in protest.
Traders had many concerns regarding this policy. They said that the buyer could provide them a fake copy of the CNIC and hence the liability of error would fall on the seller. However, the government has made it clear that the liability of error in CNIC numbers or fake CNIC being provided by the buyer will not be placed on the seller.
Another concern of the traders was that the FBR wanted the traders to sell only to the buyers who were tax filers. Traders said that they could not do so as it would adversely affect their businesses. Now, the FBR has notified that sales to even a non-filer can be made, upon submitting a copy of CNIC.
The FBR further added that the fines imposed for violation of this policy would only be imposed after the approval of the Chief Commissioner of that particular jurisdiction.
FBR said that women intending to make any transaction greater than PKR 50,000 are allowed to provide the CNIC of their husband or their father.