LAHORE – Federal Board of Revenue (FBR) turned its attention to non-filers who are buying through credit cards, identifying tens of thousands individuals making monthly high-value transactions.
According to sources, FBR has started collecting detailed credit card records from banks nationwide to uncover real incomes of these non-filers. Officials say the initiative is part of a sweeping effort to expose those living beyond their declared means and ensure that financial transparency becomes a reality.
From now on, anyone filing income tax returns will be required to declare all purchases made via credit cards. The move aims to cross-check declared income against actual spending habits. FBR issued stern warning: taxpayers must file accurate returns by October 15, and no further extensions will be granted.
To ensure compliance, FBR started sending SMS alerts to tax defaulters, reminding them of the looming deadline. Notices will specifically target those making large credit card transactions but failing to file returns. Authorities have also signaled that individuals conducting high-value online business transactions or digital payments after the deadline will face legal consequences.
FBR officials stressed that all bank transactions must be reported accurately. They warned that credit card spending will now be closely analyzed to assess a person’s real financial capacity and spending behavior.
