FBR receives customers’ withholding data from all banks
ISLAMABAD: The Federal Board of Revenue (FBR) here on Monday said that it had received data of all bank accounts from which withholding tax was being deducted and added that a scrutiny was being conducted to bring the non-filers into the tax net.
In a statement, the FBR stated that non-filers could avail the amnesty scheme to disclose their undeclared bank accounts and assets and reminded people that the deadline for the scheme would not be extended.
The withholding data was being added into the databank which was developed in collaboration with the National Database Registration Authority, the statement said and added that the data help the tax machinery in launching a pilot project from July 1, 2019 for broadening of the tax base.
Earlier on June 4, the Federal Board of Revenue (FBR) had asked all banks to write a letter to account holders whose deposits were Rs500,000 or more and make it sure that these accounts were not benami accounts.
The banks had been directed to provide the date of withholding tax deducted from accounts of clients who were not filing income tax returns.The directions had been issued to banks after meeting of the FBR chairman with the chief financial officers of all the commercial banks.