The Federal Revenue Board (FBR) has sent notices to more than 200,000 high net worth, Non-Tax Filer individuals by using third party data.
According to the Revenue Division Yearbook 2020-2021, the government has worked together to strengthen tax compliance. To create a comprehensive view of taxpayers, data sources such as banks, vehicles and real estate transactions were collected and a databank was developed. Based on this database, over 200,000 unreported High Net Worth Individuals have been observed.
Information was obtained from Electricity and gas companies to expand the tax base. Based on information received from these companies, more than 650,000 notices and 129,541 opinions have been issued to date.
FBR has taken unprecedented enforcement action to secure the return. As a result, the number of income tax filer for 2020 exceeded 3.1 million in 2020. FBR has published data of 53 million citizens on its Maloomat (tax profiling system) web portal and provides with access to information on their assets and bank accounts available to FBR.
Latest posts by News Desk (see all)
- Oil Prices down amid Geo-Political Uncertainty - November 1, 2023
- Govt to borrow PKR8.5 trillion in Bond Auction till Jan-2024 - November 1, 2023
- Nishat Chunian Ltd: 1QFY24 profit rises 13 percent to PKR 500mn - October 31, 2023