Islamabad: The Federal Board of Revenue (FBR) has scaled down its previously set target for business registrations, a news source reported. As per FBR officials, the taxation authority will now only register one out of every 10 unregistered businesses during the next two years.
Previously, FBR Chairman Shabbar Zaidi had announced the authority’s intention to register 3.1 million commercial electricity and 347,000 industrial consumers during the current fiscal year. FBR Member Inland Revenue Policy Dr Hamid Atiq recently revealed that the board wanted to increase the number of registered businesses to 300,000-400,000 during the coming two years.
FBR Member Operations Inland Revenue Service Seema Shakil said that they had reduced the scope of their planned operations because there were problems pertaining to allied departments as these were not linked with the online system yet. She added that the issue regarding duplication of CNIC numbers also made the FBR change its original plans.
Meanwhile, FBR Member Information Technology Mehmood Aslam stated that the board has introduced an online sales tax registration application for facilitating the people willing to register with the taxation authority.
Moreover, the board has stressed on the need to continue with its action against individuals who have failed to pay income taxes. It served tax notices to such individuals once again this month.
