The Federal Board of Revenue has decided to issue notices to over 100,000 non-tax filers, owning a 1000cc or above vehicle or a property measuring five hundred square yards or larger. “We will definitely issue notices to all those people who are required to file returns under the Income Tax Ordinance,” the official statement by the chairman of the revenue board Shabbar Zaidi said.
FBR managed to get the highest number of tax returns in the history as the deadline for filing was expended multiple times and an additional opportunity in the shape of Asset Declaration Scheme was also given. Around 2.1 million record returns were received by the revenue board which is expected to be increased to 4 million in the tax year 2019 as per the key policy to increase the tax net.
While just a few days are remaining before the expiry of the deadline, penalties for non-filers have also been announced, which are as under
– Rs.40,000 – for not filing tax return
– Rs.100,000 – for not submitting wealth statement
– Rs.10,000 – for not registering NTN
– Rs.100,000 – for stating falsified information in return
– Rs.40,000 – for non-payment of tax
– 5% – for payment above Rs.5,000,000 of property via non-banking channel
The board has arranged a list of potential targets which includes over 8 to 10 million individuals meeting the above said criteria and notices will be issued in multiple phases. In the recent phase, hard copies of the notices will be sent via courier, and e-copies will also be sent via email and sms. The hunt will start from urban areas to target the big fishes, and then it will move towards the rural areas. FBR is positive to achieve their massive target for the next year and Zaidi said that there is an improvement in the trend of revenue collection and the next two months will further determine the path.
