Income Tax Returns Non Filers: FBR takes strong punitive action
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The Federal Board of Revenue (FBR) has announced an intensified initiative against non-filers of income tax, notifying the International Monetary Fund (IMF) of the proposed plan.
In addition to sending notices, the FBR plans to implement various administrative measures and has compiled data on the personal and business transactions of non-filers.
In the initial phase, the FBR aims to bring one million individuals into the tax net, with a broader goal of incorporating 1.5 million people by 2024. The ultimate objective is to expand the tax net to include 6.5 million individuals by June 30, 2024.
The FBR's strategy involves not only issuing notices to non-filers but also undertaking stringent administrative actions to ensure compliance with tax laws.
The caretaker prime minister has granted approval for these measures, emphasizing the importance of broadening the tax net. According to FBR officials, 350,000 people filed tax returns this year, highlighting the ongoing efforts to enhance tax compliance.
