MULTAN: The Federal Board of Revenue (FBR) would start the process of identifying a large number of new taxpayers from its existing data after July 31, the last date of the amnesty scheme, FBR Member Accounting Faheem-ul-Haq said.
The move is meant to increase government revenue as Pakistan suffers due to fiscal constraints.
“Data maintained at the FBR is just a click away and it would be a mistake if someone thinks he/she can hide something,” the senior FBR official told APP in an interview. “The FBR has every detail, be it the property or vehicles purchased, foreign tours conducted or imparting education to their kids in reputed educational institutions.”
Faheem said policymakers and the FBR have fulfilled their moral responsibility by providing another opportunity to the people in the form of a tax amnesty scheme. Those who will avail it will be at ease to do business with peace of mind, but those who would not avail the opportunity would face difficulties after July 31, he said.
The FBR would start action on the basis of whatever information it possesses after July 31, he warned.
To a question, he said that it was necessary for the state to collect taxes. He expressed the hope that whichever political party forms government in the wake of elections, it would not go against the tax amnesty scheme nor would it oppose reforms and the efforts to identify new taxpayers. “So far we have burdened only the old taxpayers but it would not be the case anymore and instead, those escaping the tax net would have to pay their share.”
Haq disclosed that benami law was being prepared, adding that the next elected government would approve it. Furthermore, international laws are getting tougher on money transfer and Pakistan cannot stay behind the rest of the world in this respect, he added.
Published in The Express Tribune, July 13th, 2018.
Threatens to drag tax body to interprovincial committee if it fails to treat claims on priority
Despite amnesty schemes, tax base has narrowed instead of widening
FBR Member Inland Revenue Policy Dr Mohammad Iqbal, Senior Partner of A F Ferguson Shabbar Zaidi speak on the issue
More in Business