The Federal Board of Revenue (FBR) is behaving aggressively towards the people to broadening the tax net for the economic revival and to enhance the economic growth in the country. FBR is continuously saying that on July 1 if they fail to declare the assets under the amnesty scheme, which expires on June 30.
He elaborated that the crackdown does not mean that FBR officials would just go and arrest such people, but the fight against such people begins with dispatch of notices after June 30. “FBR has so far acquired information about 150,000 Pakistanis having undeclared assets abroad,” FBR Chief Commissioner Inland Revenue at Karachi Regional Tax Office-II Badruddin Ahmad Quraishi said at a news conference on Thursday (June 20).
“We have advised thousands of people through writing letters to declare their undeclared assets under the scheme expiring on June 30,” he said. “No extension will be given in the Assets Declaration Scheme,” he said categorically, adding, “We will launch crackdown against those who would continue to try hiding illegal assets from July 1, 2019.”
He maintained that the FBR has also acquired data of non-sale tax payers. “There are 400,000 such commercial businessmen and 35,000 industrialists in Karachi alone,” he said. He advised that the people who have accumulated undeclared assets till June 30, 2018 to at least declare the assets by June 30, 2019 under the scheme, as the law allows them to pay due taxes to legalise the illegal assets till June 2020.
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15 July, 2019