Sargodha: FBR successfully collects data of 1200 Benami accounts

The data has been sent to regional offices concerned for further proceedings.

sargodha

In quite an optimistic development, Federal Board of Revenue (FBR) Sargodha has collected data of 1200 Benami accounts. The data has been collected in purchases, sales, insurance commission, property from all banks and concerned departments as well as vehicles.

Speaking to a media source, FBR Chief Commissioner Sargodha Sardar Ali Khawaja said the data collected of the said Benami accounts will now be sent to regional offices concerned for further proceedings.

He further revealed that during the first phase, over 1200 cases had been detected from five districts that fell in the domain of Regional Tax office Sargodha. Giving further details, he said that 92 cases had been pointed out from district Bhakkar, 159 from Mianwali, 637 from Sargodha, 163 from Khushab and 210 from Mandi Bahauddin district.

Chief Commissioner added they have formed teams under the Chairmanship of Additional Commissioner Asad Aziz, which is responsible for issuing notices to non-fillers, he added.

Tax collection in Pakistan goes up by 43%:

Due to the economical, suitable and swift tax reforms imposed by the current government, the income return filing base has expanded by 43% to 2.5 million filers, 0.74 million new return tax-filers have been registered till the late date, as revealed by official data.

Economic professionals believe that the country is in need to expand its tax base so that they can afford the expenditures and run affairs of the state without any kind of difficulty or hindrance. It was due to the government of Pakistan increasing the revenue collection target to Rs. 5.55 trillion for the fiscal year 2019-20.

Taxes collection during the month of July 2019 by the IR-Operations Wing stands at Rs. 234 billion compared to the target of Rs. 236 billion. The figures show that the wing was able to achieve 99.2% of the assigned target.

The filing of returns of income for the tax year 2018 has touched an optimistic 2,404,371, compared to 1,486,756 returns filed in the previous tax year of 2017, showing a growth of 62 % in the last one year.

During the fiscal year 2018-19, the figures for new taxpayers filing their income tax returns is 348,140, as compared to 146,096 filed during 2017-18, showing an increase of 137%.

(Know more HERE).

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