Federal Board Of Revenue (FBR) To Start Expanding Tax Base After July 31

Federal Board of Revenue (FBR) would start an exercise to identify a large number of new taxpayers from its existing data after July 31, the last date of the amnesty scheme, Member Accounting FBR Faheem-ul-Haq has said.

MULTAN, (UrduPoint / Pakistan Point News - 12th Jul, 2018 ) :Federal board of Revenue (FBR) would start an exercise to identify a large number of new taxpayers from its existing data after July 31, the last date of the amnesty scheme, Member Accounting FBR Faheem-ul-Haq has said.

"Data maintained at the FBR is just a click away and it would be a mistake if someone thinks he/she can hide something," the senior FBR official told APP in an interview on Tuesday.

"The FBR has every detail, be it the property or vehicles purchased, foreign tours conducted or imparting education to their kids in reputed educational institutions." Faheem said that policymakers and the FBR have fulfilled their moral responsibility by affording another opportunity to the people in the form of a tax amnesty scheme.

Those who will avail it will be at ease to do business with peace of mind, but those who would not avail the opportunity would face difficulties after July 31, he said.

The FBR would start action on the basis of whatever information it possesses after July 31, he warned.

Faheem said that so far the FBR had received $300 million from foreign countries, and another one trillion rupees from within Pakistan under the tax amnesty scheme adding that lots of revenue was still in the pipeline.

To a question, he said that it was necessary for the state that the government should collect taxes. He expressed the hope that whichever political party forms government in the wake of elections, it would not go against the tax amnesty scheme nor would it oppose tax reforms and the efforts to identify new tax payers.

"So far we have burdened only the old tax payers but it would not be the case any more and instead those still out of tax net would have to pay their share." Faheem Ul Haq disclosed that benamidar law was being prepared but added that next elected government would approve it and once it happens FBR would have access to the bank accounts to make it impossible for anybody to hide anything.

Further more, international laws were getting tougher on money transfer and Pakistan can not stay behind the rest of the world in this respect, he added.