A ray of hope: Number of taxpayers in Pakistan increases by 700,000

The number of tax filers crosses 2 million for the first time in history.

 

  • Pakistan taxpayers increase by 700,000.
  • For the first time in history, the tax filers crossed 2 million figure. 
  • FBR will also be issuing notices to 0.1 million non-filers who own a house larger than 500 square yards or a vehicle over 1,000cc.
  • FBR will also be revising the definition of ‘non-resident Pakistani’ to expand the tax net. 

taxpayers

For the first time in history, following an increase of 700,000, crosses the figure of 2 million. The authority is also tightening its noose around the tax evaders as Federal Board of Revenue (FBR) gave the last date of August 2, i,e today, before the non-filers will be served notices.

FBR announced to issue notices to at least 0.1 million non-filers owning a house larger than 500 square yards or a vehicle over 1,000cc. To increase tax collection, FBR needs to take sustainable measures to broaden the tax net.

The notices were be sent via cellphone messages, emails:

FBR will be dispatching the notices through cellphone messaging and emails. In some cases, they will also be sent by courier. The notices will be based on information present with FBR and the non-filers will be penalized for Rs. 40,000. IMF also expects Pakistan to meet targets by broadening the tax base.

In a bid to do that, FBR is also considering to change the definition of resident Pakistani. Prior to Finance Act 2019, an individual was considered a resident if he/she was living in Pakistan for 183 days or approximately over six months. Now, it has been revised and changed to four months only to increase tax collection. So now a person needs to be out of Pakistan for at least eight months to claim the tax-free status.


Also See: FBR To Revise Definition Of Non-Resident Pakistanis To Increase Tax Collection

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