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300,000 tax evaders to get notices soon: Says FBR
The Federal Board of Revenue will issue notices to 300,000 people, who live a lavish lifestyle but contribute nothing to the national exchequer, asking them to file income tax returns.
The process of issuing notices to these people would be completed by the end of August, FBR Chairman Salman Siddique told Dawn on Friday.
The campaign against non-filers would be stepped up, he said.
Through the data of the National Database and Registration Authority, the FBR has identified 700,000 people who have residences in posh localities, hold foreign currency accounts and frequently travel abroad, but don’t pay income tax.
Mr Siddique said 26,740 wealthy people filed income tax returns during the last financial year after receiving notices from the tax department and an amount of Rs356 million was recovered from them.
He said of the 300,000 people the FBR would try to make provisional assessment of at least 100,000 non-filers and issue notices to them. “We will try to force these people to file tax returns during the current financial year,” he added.
The FBR chief said he was determined to bring all potential taxpayers under the tax net to raise the tax-to-GDP ratio to 9.5 per cent.
The government has appointed 18 tax broadening officers at each of the regional tax office across the country. They will specifically deal with the identified people by assessing their assets and will carry out provisional assessments of their returns.
The process will be completed in three years and the officers will then be transferred to the relevant regions for making new ‘assessees’ regular taxpayers.
In the second phase, the officers will be transferred to the proposed investigation and audit departments of the inland revenue which will perform functions similar to the customs intelligence department.
Meanwhile, a demand of Rs5.804 billion has been created by making provisional assessments of 17,134 people under Section 122C of Income Tax Ordinance, 2001.
The Directorate General of Intelligence and Investigation (Inland Revenue) has conducted an audit of withholding tax collected by various banks, which did not deposit the amount with the FBR. After a recovery drive, an amount of Rs4.253 billion was deposited by the National Bank of Pakistan (Rs2.2 billion), Standard Chartered Bank (Rs1.4 billion), Habib Bank Ltd (Rs0.240 billion), United Bank Ltd (Rs0.170 billion), Faisal Bank (Rs0.150 billion) and Bank Alfalah (Rs0.093 billion).
A statement issued by the FBR said the tax machinery had demonstrated a clear resolve to continue its efforts to expand the tax base.
300,000 tax evaders to get notices soon, says FBR | Newspaper | DAWN.COM
The Federal Board of Revenue will issue notices to 300,000 people, who live a lavish lifestyle but contribute nothing to the national exchequer, asking them to file income tax returns.
The process of issuing notices to these people would be completed by the end of August, FBR Chairman Salman Siddique told Dawn on Friday.
The campaign against non-filers would be stepped up, he said.
Through the data of the National Database and Registration Authority, the FBR has identified 700,000 people who have residences in posh localities, hold foreign currency accounts and frequently travel abroad, but don’t pay income tax.
Mr Siddique said 26,740 wealthy people filed income tax returns during the last financial year after receiving notices from the tax department and an amount of Rs356 million was recovered from them.
He said of the 300,000 people the FBR would try to make provisional assessment of at least 100,000 non-filers and issue notices to them. “We will try to force these people to file tax returns during the current financial year,” he added.
The FBR chief said he was determined to bring all potential taxpayers under the tax net to raise the tax-to-GDP ratio to 9.5 per cent.
The government has appointed 18 tax broadening officers at each of the regional tax office across the country. They will specifically deal with the identified people by assessing their assets and will carry out provisional assessments of their returns.
The process will be completed in three years and the officers will then be transferred to the relevant regions for making new ‘assessees’ regular taxpayers.
In the second phase, the officers will be transferred to the proposed investigation and audit departments of the inland revenue which will perform functions similar to the customs intelligence department.
Meanwhile, a demand of Rs5.804 billion has been created by making provisional assessments of 17,134 people under Section 122C of Income Tax Ordinance, 2001.
The Directorate General of Intelligence and Investigation (Inland Revenue) has conducted an audit of withholding tax collected by various banks, which did not deposit the amount with the FBR. After a recovery drive, an amount of Rs4.253 billion was deposited by the National Bank of Pakistan (Rs2.2 billion), Standard Chartered Bank (Rs1.4 billion), Habib Bank Ltd (Rs0.240 billion), United Bank Ltd (Rs0.170 billion), Faisal Bank (Rs0.150 billion) and Bank Alfalah (Rs0.093 billion).
A statement issued by the FBR said the tax machinery had demonstrated a clear resolve to continue its efforts to expand the tax base.
300,000 tax evaders to get notices soon, says FBR | Newspaper | DAWN.COM
