Friday, December 3, 2021  | 27 Rabiulakhir, 1443
Samaa TV
Facebook Twitter Youtube
HOME > Money

Deadline ends: Tarin warns tools available to catch tax evaders

FBR says non-filers to be sentenced two years in prison

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

Shaukat Tarin

Finance Minister Shaukat Tarin has warned that “all tools” were available to the government to catch tax evaders.

Tarin addressed a seminar at the Pakistani embassy in Washington DC. The finance minister also held a virtual meeting with his Saudi counterpart.

The warning from the finance minister comes on the last day to file tax returns. The FBR’s deadline ends on October 15 and it has said that no extension would be granted.

In a statement issued on Friday, the FBR said a failure to submit income tax returns would result in a daily fine of Rs1,000 while the 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.

Speaking at the Pakistan embassy in Washington, Shaukt Train said the tax network in Pakistan is being expanded and retailers are also being brought into the tax net.

“All the tools are now available to catch tax evaders,” Tarin said.

The finance minister said that overseas Pakistanis play an important role in the economy.

Easy loans

Speaking about the country’s economic performance, he said Pakistan’s exports are on the rise and the fruits of a better economy would be passed on to the common man.

The finance minister said easy loans will be provided to farmers and interest free loans of Rs500,000 will be given to small businesses.

In the next few years, easy loans will be distributed to 3.7 million people, he added.

Shaukat Tarin claimed that in four years the impoverished class will look prosperous.

Saudi finance minister

Meanwhile, Tarin held a virtual meeting with Saudi Finance Minister Muhammad bin Abdullah Al-Jadaan and discussed the issues of mutual interest.

The ministers discussed measures to enhance Pak-Saudi economic cooperation, Pakistan’s finance ministry said in a statement.

Shaukat Tarin is in Washington DC to hold talks with the International Monetary Fund (IMF) on the next instalment of the IMF programme for Pakistan.

A day earlier, he spoke to the think tank the United States Institute of Peace, or USIP, and defended the Chinese investment in Pakistan.

Tarin said Pakistan valued China’s contribution to the development of necessary infrastructure in Pakistan, but the investment would not affect Pakistan-US relations.

FaceBook WhatsApp
 
HOME  
 
 

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp
 

 
 
 

MOST READ
MOST READ
Dollar rate: Pakistani rupee plunges to another record low
Video: PTI MNA claims women who smoke end up divorced
Odd news: rally in airplane, petrol now a wedding gift
Philippine national found dead on ship at Port Qasim
Sindh lowers passing score from 65% to 50% for MBBS/BDS admissions
Imran wants PAC to expose his government’s corruption as well
Sharae Faisal: Fires break out at PAF museum, KWSB office
EVMs in Punjab, global oil prices, first US Omicron case
President Alvi sign EVMs bill into law
 
 
 
 
 
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors   |   Comment Policy
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp