FBR (The Federal Board of Revenue) tightens the noose around tax-evading educational institutions. It taken steps to bring the private educational institutions (schools, colleges and other education centres) into the tax bracket. With the connection to this, the Broadening of Tax Base Zone, RTO-II, Karachi has sketched out a comprehensive plan to broaden the tax base.
As reported by a local news source, the steps have been devised on the directives of the chief commissioner. It revealed that special team of BTB wing has been instructed to dig out, visit and unearth the unregistered businesses of educational institutions in Pakistan with an intention of broadening the tax base.
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BTB wing of the FBR based in RTO Karachi will also be leading an extended and well-thought campaign to include the potential taxpayers into the tax net. In the lines of the directives, the newly established supermarkets will also be brought into the bracket.
”Tax authorities have devised a strategy to launch a campaign to include potential taxpayers into tax net” – the sources revealed.
In another significant development, BTB has sent out notices to 16000 salaried individuals, who have taxable income but are not filing their annual income tax returns.
”Also, the data regarding the purchase of 2,000 high-valued properties have been acquired and notices shall be issued for filing returns” – the sources further revealed.
As reported by the said reporting source, the internal sources claim that BTB will leave no stone unturned to educate businessmen regarding the benefits of coming into the tax net. Recently, FBR also raided a private school at Block 15, Gulistan-e-Jauhar- Karachi whose owner was having multiple accounts, more than those officially declared.
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