Business

ISLAMABAD – The Federal Board of Revenue (FBR) has started a massive drive for the recovery of taxes from 169 big and influential tax evaders.

According to FBR, the crackdown on the high-value targets has been launched on the instruction of Federal Minister for Finance Asad Umar as part of the government’s efforts to widen the tax net.

In the first phase, strict action is being taken against 169 tax evaders and non-filers with a proven trail of large business transactions and financial deals made by them in recent times.

All such tax evaders have been identified by the FBR and are being proceeded against for recovery of payable tax besides being subjected to heavy fines and penalties for failing to fulfil their tax obligations.

The FBR has also decided to start the action, in a phased manner, against all those tax evaders who have purchased properties over 20 million rupees, or purchased 1800 CC or larger engine cars, or received rent to the tune of 10 million rupees or more in a year but have not filed their tax returns.

The drive for the recovery of tax from these big tax evaders is being launched across Pakistan without any discrimination.

The FBR has further warned the tax evaders to file their tax returns and pay their due taxes within the due date as the government is committed to reviving the national economy by introducing and promoting a healthy tax culture under which all Pakistanis pay their due taxes and contribute to the socioeconomic development of the country.