Web
Analytics
The news is by your side.

FBR registers 55% increase in tax returns

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said that it has registered a landmark 55 percent increase in the number of income tax returns filed until October 10, 2018 as compared to the corresponding period last year.

“FBR has until 10.10.2018 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 Tax Year 2017 by the same date, registering an impressive increase of 55%,” reads a statement issued by FBR

The FBR statement said that the increase in the filing of income tax returns envisages the confidence of taxpayers upon the policies of the government, FBR, as well as the stability of e-filing system.

FBR, as a part of its ongoing strategy, is committed to providing seamless availability round the clock by using modern techniques to bring about efficiency and effectiveness in tax collection.

It is pertinent to note here that earlier this month, FBR also announced to launch a crackdown on non-taxpayers on the instruction of Federal Minister for Finance, Revenue and Economic Affairs Mr Asad Umar.

In the first phase, strict action is being taken against 169 tax evaders and non-filers with proven trail of large business transactions and financial deals made by them in recent times. All such tax evaders have been identified by the FBR and are being proceeded against for recovery of payable tax besides being subjected to heavy fines and penalties for failing to fulfill their tax obligations.

The FBR had also decided to start action, in a phased manner, against all those tax evaders who have purchased properties over Rs 20 million, or purchased 1800 CC or larger engine cars, or received rent to the tune of Rs 10 million or more in a year but not bothered to file their tax returns; therefore not in the list of taxpayers. The drive for the recovery of tax from these big tax evaders is being launched across Pakistan without any discrimination.

The FBR had warned the tax evaders to file their tax returns and pay their due taxes within the due date as the 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 of the country.

Comments

comments

You might also like