FBR expedites action against tax evader companies, individuals
- By Web Desk -
- Oct 18, 2024
The Federal Board of Revenue (FBR) has expedited its action against the tax evader companies and individuals, ARY News reported, quoting sources.
For the first time in history, FBR arrested tax evaders after registration of FIRs, the sources said and added that the lists of tax evader companies and individuals have been finalised to speed up the action.
Concerned tax commissioners will serve show-cause notices over tax irregularities.
Meanwhile, the FBR officials have said with the new steps, the tax evasion will be reduced in Pakistan as no one will be able to hide his tax returns.
Non-filers will be barred from doing any business, buying house or a vehicle.
It is to be mentioned here that the government has extended the deadline for filing income tax returns for the tax year 2024 again until October 31, providing an opportunity for those who did not file their returns before October 14.
Read more: Income tax, corporate tax rates required to be slashed: FBR chief
The previous deadline was October 14, but banks in Islamabad and Rawalpindi were closed for three days, causing issues for taxpayers who completed their returns, Federal Board of Revenue Chairman Rashid Mahmood Langrial confirmed to Dawn on Monday.
The original deadline for submitting tax returns was September 30.
The Federal Board of Revenue received 4.537 million income tax returns until October 14, compared to 2.183m during the same period last year. For the tax year 2023, the FBR received a total of 6.464m returns. To reach last year’s level, it needs an additional 1.927m returns.