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00:00There has been a tax gap of Rs 3,400 billion in the interest of CSX.
00:04There has been a preparation to harass those who do not register their business.
00:09We will talk more about this.
00:10Shoaib Nizami is with us.
00:11Shoaib, please tell us about this.
00:13Yes, Mr. Mohammad Khalid.
00:14The efforts of the FDI, especially the non-registered businesses after October 1,
00:19against them, especially those who are not registered in CSX,
00:23against them, there are approximately 2.5 million shopkeepers and wholesalers
00:27who will be included in the income tax.
00:30Along with that, they will be registered in CSX.
00:33Point of sale machines will be installed.
00:35Because the expectation or the possibility is that
00:38the government is not getting Rs 3,400 billion in sales tax from this sector.
00:44For this, various types of fines will be imposed.
00:47Those who refuse to register will be fined Rs 10 lakh.
00:51The turnover of Rs 25 crore will also be included in the income tax.
00:57Along with that, those people who are registered in the tax-tory,
01:02their bank accounts will be deposited.
01:04The property will be confiscated.
01:05The connections will be cut off.
01:08Their distribution system will be damaged.
01:11Along with that, the rate of CSX will be tripled.
01:15So, where there is a rate of 18%, when they do not come into the system,
01:20after tripling the rate, they will be harmed from the business.
01:24So that the people who are registered in CSX are at a disadvantage
01:28and those who are not registered are at a loss.
01:30Thank you very much for the detailed information, Shoaib.