A whooping 55% increase in tax returns registration at FBR

Federal Board of Revenue (FBR) has registered a landmark 55% increase in the number of income tax returns.

fbr-55-percent-increase-tax-registration.-2018
Tax registration increase in FBR

FBR has noticed this data filed until 10th of October this year.

Until 10.10.2018, FBR has received 482,275 income tax returns for the tax year 2018, which are 170,208 more than the 312,067 income tax returns received for the tax year 2017 by the same date, registering an impressive increase of 55%.

E-Filing system by FBR:

The increase in the filling of income tax returns envisages the confidence of taxpayers upon the policies of the Government. FBR as well as the stability of the e-filing system.

FBR, as a part of its ongoing strategy, is dedicated to providing seamless availability to bring about efficiency and effectiveness in tax collection.

Crack Down against the non-filers:

It is pertinent to mention here that FBR has launched a crackdown on non-taxpayers on the instruction of Federal Minister of Finance, Income and Financial Affairs.

Within the first part, strict action is being taken towards 169 tax evaders and non-filers, with the proven path of huge enterprise transactions and financial deals made by them.

All such tax evaders have been recognized by the Federal Board of Revenue and are being proceeded towards the recovery of payable tax apart from being subjected to heavy fines and penalties for failing to fulfill their tax obligations.

Here is a visual representing the statistics: 

fbr-tax-collection-55-percent=increase.-2018
FBR Tax Collection statistics 2018

The Federal board of revenue has also decided to take action, in a phased manner, against all those tax evaders who have:

  • Purchased properties over Rs 20 million.
  • Purchased 1800 CC or larger engine cars.
  • Received rent to the tune of Rs 10 million or more in a year but not bothered to file their tax returns.

Also Check: FIA receives a list of 3550 Pakistanis with properties in Dubai. 

The drive for the recovery of tax evaders is being launched across Pakistan without any discrimination.

The Federal board of revenue had warned the tax evaders to fix their tax returns and pay their due taxes within the due date.

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 in the country.

Source Here

Facebook Comments

comments

Comments are closed.