ISLAMABAD – A senior tax official has said that data a list of over 13,000luxury cars has been compiled by the Federal Board of Revenue (FBR) whoseowners have never filed income tax returns.
Whilst talking at a press conference about the asset declaration scheme,Chief Commissioner Inland Revenue, Regional Tax Office (RTO)-II Karachi,Badaruddin Ahmed Qureshi said, “The data had been collected from motorvehicle registration authority”.
He added that under Income Tax Ordinance, 2001 owners of cars above 1,000CChad to file mandatory income tax returns regardless of the thresholdincome, adding, the latest data only had names of those people who ownedabove 2000CC vehicles.
Qureshi said that the RTO-II was prepared to take a move againstnon-complaint citizens but only after the deadline of the current amnestyscheme elapsed.
The Chief Commissioner said,
The asset declaration scheme is expiring on June 30 and after that, the FBR(Federal Board of Revenue) will invoke all provisions of Income TaxOrdinance, 2001 pertaining to penalty and prosecution for non-compliance.
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Qureshi said it was only after concluding that people should be given onelast opportunity to legalize their undeclared assets and cash was the assetdeclaration scheme introduced.
He added, “The FBR will take all possible measures to bring those peoplewhose information is available on the database.”
After explaining all the aspects of the amnesty scheme in detail, he saidthis scheme was different from previous ones as the undeclared expenditureswere also included in it.
