The Federal Board of Revenue (FBR) is gearing up to take action against tax evaders, marking the completion of their preparations. FBR sources indicate that final notices will soon be dispatched to tax evaders, including traders and industrialists, whose assets and lavish spending don’t align with their reported tax information. It has come to light that while some traders report only minimal tax payments, their actual income amounts to billions.
Reports suggest that many individuals have invested in multiple properties and are operating businesses beyond their declared income, often resorting to methods to convert their undisclosed income into legitimate funds.
The FBR has compiled lists comprising prominent traders and industrialists from various markets, such as Akbari Market, Shah Alam Market, Azam Cloth Market, Anarkali, Liberty Market Road, and Gulberg, along with areas like Ferozepur Road and Model Town.
Furthermore, the FBR has accumulated a decade’s worth of data on traders, which will be utilized in the upcoming phases of their crackdown. The scope extends to markets across Punjab, covering cities like Lahore, Gujranwala, Sialkot, Faisalabad, Multan, Sahiwal, and others.
FBR officials assert their firm stance against any form of malpractice, emphasizing that they will not tolerate any excesses or unjust tax demands. They highlight the government’s seriousness in addressing tax evasion and mention their recourse to legal measures, including engaging with the courts to ensure accountability. Those found guilty will face expulsion from their positions of influence without hesitation.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
