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 7.4 million non-filers into the tax net by using the Tax-Ray portal on IRIS.
IRIS is an online portal where Income Tax Return link is filed. Special Assistant to PM on Revenue Dr. Waqar Masood, said that FBR has served tax notice to 70,000 biggest asset holders excluding the salaried persons.
He said that the board identified 250,000 individuals out of one million filers who claimed “absolutely no income” but were found to have paid Rs20 billion in withholding taxes which means their “transactions are worth over Rs200 billion.”
Moreover, he said that the tax authority divided the database of 7.4 million National Tax Number (NTN) holders into four to five classes.
In addition to this, he said that the data showed only 2.7 million filed tax returns while 3.7 million did not file returns for the last five years.