Latest FBR Releases
IN a large swoop to widen the tax net and ensure tax compliance across Pakistan, Federal Board of Revenue has started a massive drive for the recovery of taxes from big and influential tax evaders.
The crackdown on the high-value targets has been launched on the instruction of Federal Minister for Finance, Revenue and Economic Affairs Mr Asad Umar as part of the government’s efforts to widen the tax net and bring in it all those individuals who have purchased big properties, brought over 3000CC or larger engine cars and have been paid property rent in millions but have not paid any tax or filed tax returns.
In the first phase, strict action is being taken against 169 tax evaders and non-filers with proven trail of large business transactions and financial deals made by them in recent times. All such tax evaders have been identified by the FBR and are being proceeded against for recovery of payable tax besides being subjected to heavy fines and penalties for failing to fulfill their tax obligations.
The FBR has also decided to start action, in a phased manner, against all those tax evaders who have purchased properties over Rs 20 million, or purchased 1800 CC or larger engine cars, or received rent to the tune of Rs 10 million or more in a year but not bothered to file their tax returns; therefore not in the list of taxpayers. The drive for the recovery of tax from these big tax evaders is being launched across Pakistan without any discrimination.
The FBR has further warned the tax evaders to file their tax returns and pay their due taxes within the due date as the government is committed to reviving the national economy by introducing and promoting a healthy tax culture under which all Pakistanis pay their due taxes and contribute to the socio-economic development of the country.