Business Pakistan

#FBR gives notices to non-filers worth 100,000 net worth

ISLAMABAD: The Federal Revenue Board (FBR) sent 100,000 tax notices to high net worth individual non-filers who have done trillions of company rupees while introducing an automated sales tax registration scheme to extend the tax base.

In the first batch FBR sent tax notices to individuals with a high net worth of 0.1 million non-filers, and next month another 0.1 million will be served notices in the second batch.

“We began using our withholding database to expand the tax base that made trillions of rupees payments but never tried to get into the tax scheme,” FBR Member Inland Revenue (IR) Operation Seema Shakil said while discussing Tuesday’s news conference with other participants.

There are 4,000 shoes and clothing shops connected to the FBR system, and the FBR charged 14 percent GST from them, 5 percent of which would be returned to customers immediately after sharing an update on the online invoice verification system. He said that FBR could employ facilities to enter various economies with scanners that would return invoices to the FBR scheme to pay back the quantity of income earned.

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