FBR to launch aggressive tax registration drive from October 15th
FBR to launch an aggressive drive for registration of all industrial and commercial consumers from October 15, 2019.
- So far, the FBR has collected Rs963 billion in first three months against the desired target of Rs1, 071 billion.
- FBR also decided to bring over 20,000 brands shops and mega retailers into computerised tax system at point of sale.
FBR to launch an aggressive tax drive from October 15 for registration of all industrial and commercial consumers.
On Friday, by taking a social networking website Chairperson of FBR said,” All industrial and commercial consumers are necessarily required to be registered for tax purposes. FBR had been using persuasive modus operandi for the same. To achieve the desired results an aggressive drive will be undertaken from October 15, 2019.”
Pakistan is aiming to achieve a massive task of collecting a tax of Rs5, 503 billion for the current year. So far, the collection of 963billion has been made by FBR the first three months. Although the desired target was 1,071 billion.
Brands shop & Mega retailers
FBR deliberates to bring 35,000 industrial and commercial consumers into the tax net. Moreover, 20,000 brands shop and mega-retailers will have a computerized tax system at the time of sale said FBR.
“We have already linked software developed by the FBR with cash machines at 3,824 big shops all over the country related to textile and leather,” said FBR official. Furthermore, this software would installed into 20,000 shops all over Pakistan.
“The rate of GST is reduces to 14 percent for these big shopping malls instead of a standard rate of GST of 17 percent,” said the official.
FBR has sent a letter to the Ministry of Water and Power to implement a section of 181AA of Income Tax Ordinance 2001. Any connection of electricity will only be possible when a person registers under the said section.
For every industrial gas or electricity consumption, it is mandatory to be on the “Active Taxpayers List (AATL) FBR chairperson requested the Ministry of Power.