Islamabad: The Federal Minister for Revenue Hammad Azhar said the government is looking to reduce the property-tax ratio after equalising the official property valuation to market rate, reported a news source. He shared this information while speaking to the media after attending a ceremony held for the launch of a new website for the Federal Board of Revenue (FBR).
He also briefed the media that regarding the formation of Benami laws. About the amnesty scheme being considered by the federal government, the minister said that it cannot be introduced via an ordinance. Instead, new legislation is being formed to announce the scheme.
The federal minister also mentioned that FBR has selected fewer cases this year for the audit. This will help reduce the expenses required to conduct the analysis. Shedding light on measures taken against the non-filers, Minister Azhar said that the details on three to four million non-filers is being sourced from National Database and Registration Authority.
He also indicated that the efforts to increase tax revenue, expand the tax net and increase the number of tax filers will continue. Speaking about the measures taken to deal with the local and offshore tax defaulters, the minister said that the FBR has access to their date. The government is instead giving them time to surrender before a legal action is taken.
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