Federal Board of Income (FBR) Chairman Rashid Mahmood Langrial has issued a stern warning that authorized motion will probably be taken towards people who fail to submit their tax returns. The FBR is concentrating on high-profile sectors as a part of its marketing campaign to cut back tax evasion and streamline income assortment.
Talking at a press convention in Islamabad, Langrial confirmed that the FBR had issued notices to 190,000 people, of which 38,000 had submitted tax returns amounting to Rs370 million.
“Those that haven’t filed their returns and did not pay their taxes will face penalties,” Langrial stated. He careworn that the federal government was dedicated to tackling the rising tax hole in Pakistan, which presently stands at Rs7.1 trillion, with Rs2.4 trillion particularly attributed to earnings tax.
The chairman additionally highlighted the continued efforts to digitise the tax submitting course of, with a deal with the highest 5% of taxpayers. “We’re carefully monitoring the sugar mills, notably in Punjab, the place a number of mills have been caught utilizing pretend or flying invoices,” he added.