Islamabad: The Federal Board of Revenue (FBR) has recovered PKR 13.5 billion in the first nine months of this fiscal year on the back of its ongoing campaign against tax defaulters, non-compliant high net-worth individuals (HNWI).
Notices have also been sent to rich people in order to bring them in the tax net.
Total tax demand created through all the above-mentioned initiatives is around PKR 31.2 billion and the remaining amount will be recovered after completion of the legal procedures. These individuals and entities will also be brought into the tax net.
The drive has also helped the board document 540,000 additional tax returns in the tax year of 2018 by May 31. The total income tax returns submitted have reached PKR 1.92 million for the tax year as compared to PKR 1.38m in the corresponding period last year.
This figure may go up as the government has extended the last date for filing of tax returns for TY18 until June 30 as part of the tax amnesty scheme.
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.
