The Federal Board of Revenue (FBR) has taken a decisive step towardscombating tax evasion on a nationwide scale. This significant move comes asa response to the rampant issue of tax evasion within the country.According to inside sources, the FBR has meticulously compiled a listcomprising approximately 11,000 individuals hailing from major cities,including the bustling urban centers of Lahore and Karachi. The individualson this list span across various sectors, encompassing industrialists, millowners, traders, property dealers, and wholesalers, as revealed byundisclosed sources.
This initiative is set to bring about a tighter grip on tax defaulters,with the potential for arrests looming over them. The FBR’s list of taxevaders is an extensive one, extending its reach across several cities,including Karachi, Lahore, Faisalabad, Rawalpindi, and Multan.
FBR sources have indicated the possession of substantial evidence againstthese tax defaulters, putting them on notice to produce the necessarydocuments within a one-week timeframe following the issuance of a taxnotice.
In a separate revelation, a global market research firm, Ipsos, disclosedstaggering figures related to tax evasion in Pakistan. Their survey report,released in June, unveiled an alarming 956 billion rupees worth of taxevasion. This massive evasion encompasses various industrial sectors, suchas real estate, tea, cigarette, tires, oil, and pharmaceuticals.
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The report specifically highlighted a staggering 500 billion rupees of taxevasion annually within the real estate sector alone, further emphasizingthe pervasive nature of this issue. Moreover, the report pointed outsignificant tax losses in other sectors, including 240 billion rupees fromcigarette traders, 45 billion from the tea industry, and 65 billion fromthe pharmaceutical sector, along with 106 billion rupees in revenue lossesfrom the tire and oil industry annually. These revelations underscore theurgent need for robust measures to curb tax evasion and bolster thecountry’s revenue collection efforts
