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FBR launches new plan to bring 7.4 million non filers into tax net

FBR launches new plan to bring 7.4 million non filers into tax net

The Federal Board of Revenue (FBR) has developed a plan to bring 7.4million non-filers into the tax net by using the Tax-Ray portal on IRIS.

IRIS is an online portal where Income Tax Returnlinkisfiled. Special Assistant to PM on Revenue Dr. Waqar Masood, said that FBRhas served tax notice to 70,000 biggest asset holders excluding thesalaried persons.

He said that the board identified 250,000 individuals out of one millionfilers who claimed “absolutely no income” but were found to have paid Rs20billion in withholding taxes which means their “transactions are worth overRs200 billion.”

Moreover, he said that the tax authority divided the database of 7.4million National Tax Number (NTN) holders into four to five classes.

In addition to this, he said that the data showed only 2.7 million filedtax returns while 3.7 million did not file returns for the last five years.