FBR extends tax crackdown to Khyber Pakhtunkhwa and Sindh

ISLAMABAD: The Federal Board of Revenue (FBR) is set to extend its crackdown on tax evasion to Khyber Pakhtunkhwa and Sindh, sources said on Monday.

Notices have been issued to jewellers who are either unregistered or have paid insufficient taxes, sources within the FBR said.

Jewellers in several cities, including Rawalpindi, Faisalabad and Multan, have already received notices over unpaid taxes.

The FBR officials have stated that out of the 57,000 jewellers across the country, only 20,000 have registered themselves.

Of the 20,000 registered jewellers, 10,000 have filed their tax returns, they added.

At least 50 jewellers in a single market in Islamabad have failed to file their tax returns, FBR officials said, reiterating that tax evaders will be dealt firmly.

The FBR also raided a notable real estate firm as part of the crackdown and seized records despite facing resistance, the officials said, adding that the confiscated records will be used to assess due tax on the company.

The board launched a crackdown on potential tax evaders after discovering that only 1,100 individuals have declared a net worth of Rs1 billion, The News reported on Sunday.

The crackdown on potential tax evaders came after an FBR scrutiny of last year’s tax returns revealed that only 1,100 people across the country declared assets worth Rs1 billion, the publication added.

The FBR also decided to identify individuals allegedly involved in massive misdeclaration of their assets and income.

For the crackdown, the tax collector has deputed 450 Inland Revenue Service (IRS) inspectors across the country.

The officials will conduct on-ground surveys to verify and check those who declared significantly fewer assets and income than they actually possess.