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How the FBR plans to go after tax non-filers

Deadline will not be extended

SAMAA | - Posted: Oct 15, 2021 | Last Updated: 2 months ago
Posted: Oct 15, 2021 | Last Updated: 2 months ago

Today, October 15, is the last day Pakistanis can file their income tax returns. After this, the Federal Board or Revenue will be tightening the noose of people who escape the tax net.

Finance Minister Shaukat Tarin has warned that the government has tools to catch tax evaders. If a person doesn’t file their income tax returns, their name will not appear on the Active Tax Payers list for that year. The Active Taxpayer List is a central record of online income tax return filers for the previous tax year.

According to the FBR, failure to submit income tax returns will result in a daily fine of Rs1,000 and non-filers will be sentenced to two years in prison.

The FBR has said that so far more than 2.5 million people have submitted tax returns. Despite a full-fledged campaign, the annual target of 3.5 million returns has not been met.

Up till September 30 this year, 1.8 million people filed their returns and since September 30, another 500,000 tax returns were filed. The highest tax returns were collected from major cities Karachi, Lahore and Islamabad, said the FBR.

Late tax filers with properties worth Rs50 million will be required to pay a tax of  Rs1 million instead of Rs500,000.

Non-tax filers will have to pay Rs30,000 instead of Rs15,,000 on the registration of 1000cc vehicles, and the token tax for vehicles of up to 1000cc will be Rs20,000 instead of Rs10,000.

According to the FBR, the registration of a mobile phone worth $500 will be taxed at Rs6,000 instead of Rs3,000, while smartphones costing more than $500 will be taxed at Rs10,400 instead of Rs5,200.

Non-tax filers will have to pay an additional 7.5% tax on monthly electricity bill of Rs25,000 and above and additional taxes will be imposed on the purchase of goods, imports, prize money and profits.

The deadline for filing tax returns was September 30, but it was extended till October 15.

One of the FBR’s greatest challenges is widening the tax base. Last year it collected over Rs4 trillion in taxes and this year it has set a target of Rs5.8 trillion. The IMF has demanded that the target be Rs5.9 trillion, which experts have said is going to be challenging.

The FBR on Friday clarified that the date for submission of income tax returns will not be extended and it will be October 15.

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