NowPakistan.com
BusinessPakistan

#FBR gives notices to non-filers worth 100,000 net worth

ISLAMABAD: The Federal Revenue Board (FBR) sent 100,000 tax notices to high net worth individual non-filers who have done trillions of company rupees while introducing an automated sales tax registration scheme to extend the tax base.

In the first batch FBR sent tax notices to individuals with a high net worth of 0.1 million non-filers, and next month another 0.1 million will be served notices in the second batch.

“We began using our withholding database to expand the tax base that made trillions of rupees payments but never tried to get into the tax scheme,” FBR Member Inland Revenue (IR) Operation Seema Shakil said while discussing Tuesday’s news conference with other participants.

There are 4,000 shoes and clothing shops connected to the FBR system, and the FBR charged 14 percent GST from them, 5 percent of which would be returned to customers immediately after sharing an update on the online invoice verification system. He said that FBR could employ facilities to enter various economies with scanners that would return invoices to the FBR scheme to pay back the quantity of income earned.

also read..

Electric cars from Korea destroyed as trailer carrying them overturns in Pakistan

News Editor

Sindh registers highest number of coronavirus deaths, cases since end of July

News Editor

Funerals begin as town mourns victims of Pakistan train fire

News Editor

EU’s 750 bn euro recovery plan to help worst affected countries

News Editor

Top Russian security official hits back at French threat of “economic war” against Russia

News Editor

Army chief Gen Bajwa meets Pakistan’s ambassador to UN Munir Akram

News Editor