Karachi: The Federal Board of Revenue (FBR) has announced its decision to take penal action against more than 125,000 citizens who have yet to file their tax returns for the year 2018, a news source reported.
As per officials, non-compliant residents of the city, who have received FBR notices, can file their tax returns till October 31 along with nominal fine payment submissions to avoid being charged with heavy penalties.
The Regional Tax Office (RTO)-II Karachi has issued details of more than 125,000 people who filed their tax returns during the tax year of 2017, but failed to do the same for the year 2018. Previously, taxation agency had issued notices to these individuals; urging them to file their income tax returns and wealth statements.
Over the past three years, the FBR has adopted various strategies in its bid to increase the number of annual tax return submissions. These measures include urging professionals to comply with legal obligations, increasing the strictness of the system, as well as sending trained individuals to help professionals working in various offices to file their tax returns.
