Islamabad: In response to International Monetary Fund (IMF) demands for enhanced tax revenue and compliance, the Federal Board of Revenue (FBR) has received data on 195,000 high-income individuals from the National Database and Registration Authority (NADRA), according to a news source. This significant data exchange includes bank account information, luxury vehicle registrations, and property ownership records of affluent Pakistanis who have not been filing tax returns.
According to sources, this data provides compelling evidence of non-compliance among Pakistan’s wealthiest, who maintain lavish lifestyles without contributing to the national tax base. The FBR aims to use this information to enforce tax obligations and bolster revenue collection for the current fiscal quarter of 2024-25.
FBR Chairman Rashid Mahmood Langrial recently noted that less than 5% of Pakistan’s wealthiest individuals are registered in the tax net, underscoring the need for intensified efforts to address non-filers. Prime Minister Shehbaz Sharif has also directed the FBR to increase tax compliance among high-income earners, emphasizing the urgency of broadening the tax base to support fiscal stability.
The FBR’s latest initiative marks a more data-driven approach to tax enforcement, potentially signaling a new phase of scrutiny on luxury assets and income patterns of non-filers. With NADRA’s comprehensive data at hand, the FBR is expected to expedite follow-up actions on non-taxpaying individuals in the coming months.
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.
