FBR crackdown on non-filers from Oct 1 to meet tax target

Business Sep, 24 2024
FBR crackdown on non-filers from Oct 1 to meet tax target
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ISLAMABAD: Federal Board of Revenue (FBR) has announced decisive crackdown on non-filers, beginning October 1, as part of its efforts to achieve an annual tax target of approximately Rs 12,970 billion.

Final tax notices will be issued to millions of non-filers as FBR seeks to enhance compliance. According to FBR sources, restrictions may be imposed on non-filers travelling abroad and strategies are in place to disconnect mobile SIMs, electricity and gas services for those who fail to meet their tax obligations. Taxpayers are required to submit their income tax returns for financial year 2024 by September 30, or they will face double withholding tax rates. FBR plans to target ten major sectors in its crackdown, including retail, wholesale, transport, real estate, construction, health and education. Officials have indicated that FBR possesses comprehensive records of citizens' transactions, enabling them to identify non-compliance effectively. Furthermore, proposed ban on sale and purchase of property and vehicles by non-filers is under consideration.

After deadline, FBR intends to conduct extensive audits of taxpayers, with heavy penalties for tax evasion or submission of false information. FBR's commitment to enhancing tax compliance reflects its broader goals for economic stability and growth

Syeda Hoor Shumail
Syeda Hoor Shumail https://www.dailynationalcourier.com/author/syeda-hoor-shumail
Contributing author at Daily National Courier. Looking after OP-ED page with diversified content on mix topics of greater interest. Also member of Karachi Union of Journalist (KUJ).

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