The Federal Board of Revenue (FBR) has reminded taxpayers that September 30 is the final date for filing income tax returns for the current year. The authority has urged individuals and businesses to ensure timely and accurate submissions.
FBR calls for honest declarations
In a public advisory, FBR emphasized the importance of filing returns truthfully. “Submit your income tax correctly and honestly,” the revenue body said.
New simplified return form introduced
To make the process easier, FBR has rolled out a new simplified tax return form. The updated format is aimed at reducing complications for filers and encouraging more people to join the tax net.
Also Read: FBR targets 100,000 wealthy social media users for lavish lifestyle
The Federal Board of Revenue has initiated a crackdown against jewellers who are either paying less tax or remain outside the tax net. Notices have been served in several major cities, including Islamabad, Rawalpindi, Faisalabad, and Multan.
Thousands of jewellers outside tax net
According to FBR officials, Pakistan’s jewellery business is vastly underrepresented in the tax system. Out of nearly 57,000 people involved in the trade, only 20,000 are officially registered.
The gap narrows further when it comes to compliance. Among the registered jewellers, just 10,000 have filed their tax returns, raising concerns about large-scale evasion within the sector.
Unregistered jewellers in capital highlighted
FBR sources revealed that tax evasion is widespread even in the federal capital. Officials identified 50 jewellers in just one market of Islamabad who are operating outside the tax net.
Also Read: FBR launches crackdown on jewellers, issues notices
On Saturday, the board launched a crackdown on wealthy individuals showcasing their extravagant lifestyles on social media.
Authorities said they had collected data on 100,000 people flaunting luxury homes, flashy cars, expensive jewellery, and lavish weddings, warning that those who fail to update their tax returns will face legal action.
Wealthy social media users under scrutiny
According to FBR officials, individuals who display their wealth through videos and photos online are under close observation. Big bungalows, luxury vehicles, high-end jewellery, and extravagant spending at weddings are being carefully tracked.
