Final tax notices to be issued to lakhs of non-filers as FBR seeks to boost compliance.
FBR targets non-filers starting from October 1st. The Federal Board of Revenue (FBR) has announced a decisive crackdown on non-filers in Pakistan from October 1 in an effort to achieve the annual tax target of around Rs 12,970 billion.
Final tax notices to be issued to lakhs of non-filers as FBR seeks to boost compliance.
As per the media reports, restrictions may be imposed on non-filers traveling abroad and plans are being made to disconnect mobile SIMs, electricity and gas services for defaulters. Taxpayers need to file their income tax returns for the financial year 2024 by September 30, or face double the withholding tax rate.
The FBR plans to target ten major sectors in its crackdown, including retail, wholesale, transport, real estate, construction, health and education. Officials have pointed out that the FBR has a comprehensive record of citizens’ transactions, which can effectively identify non-compliance.
Additionally, a proposed ban on sale and purchase of property and vehicles by non-filers is under consideration. After the deadline, the FBR plans to conduct a wide-scale audit of taxpayers, with heavy penalties for tax evasion or submission of false information.
FBR’s commitment to enhance tax compliance reflects its broader goals for economic stability and growth.
Additionally, it has been decided to conduct extensive audits of taxpayers after the deadline passes.
As per the media reports, there is a plan to collect billions in taxes from ten major sectors, including retail, wholesale, transport, real estate, construction, health, and education.
The FBR possesses complete records of citizens’ transactions, and heavy fines will be imposed in cases of tax evasion or incorrect information.
In a bid to achieve the ambitious tax target for the fiscal year 2024-25, the government has allocated an additional Rs34 billion to modernise the Federal Board of Revenue (FBR).
Recently, the FBR announced plans to enlist intelligence agencies to identify officers involved in corruption.
As part of its strategy, the government aims to collect Rs450 billion through enforcement measures, focusing on digitally capturing Rs48 trillion in services sector supplies over the next three months.
