Rs 10bn collected on cash withdrawal from non-filers

ISLAMABAD: The Federal Board of Revenue (FBR) has collected more than Rs 10 billion from citizens on cash withdrawals in the current fiscal year so far, ARY News reported

According to the sources, the amount has been collected in advance tax from the customers whose banks have central offices in Karachi.

The FBR has imposed an advance tax of 0.6 percent on cash withdrawals from banks. The amount is deducted at 0.6 percent rate on transactions above Rs 50,000 in a single day.

As per the FBR’s statement, the non-filers are charged Rs 300 in tax on cash withdrawals of Rs 50,000 or more in a single day.

The FBR is also deducting withholding tax from individuals who are not enlisted in the Active Taxpayer List (ATL).

It is pertinent to mention here that the FBR is taking strict measures against non-tax filers as over 11,000 SIM cards have blocked by the cellular companies on its directives.

The telecommunication companies had blocked over 3000 SIM cards of the citizens who failed to file their income tax returns in the first phase.

Then on the FBR’s another recommendation, the cellular companies on Wednesday blocked around 9000 SIM cards taking the toll to 11, 252.

FBR Spokesperson Bakhtiar Ahmed Khan while speaking to ARY News said that they have provided data of 30,000 non-filers to cellular companies, hinting that more SIM cards will be blocked.

Bakhtiar Ahmed Khan said that the FBR will provide data of 5,000 non-filers daily to telecom companies so that strict action could be taken against them.

The spokesman said the FBR so far identified over 550,000 non-filers.