The Federal Board of Revenue (FBR) is intensifying its efforts to crack down on high-income tax filers who significantly underreport their earnings. FBR Chairman Rashid Mahmood Langrial announced on a private TV show that the agency is mobilizing all available resources to target the top 4-5 percent of high-income earners who fail to pay the correct amount of taxes and under-file their returns.
The federal government is determined to meet this fiscal year’s ambitious tax target of Rs. 12.97 trillion, and the FBR is set to implement rigorous enforcement measures to achieve this goal. According to Chairman Langrial, the initial focus will be on high-income filers as part of the broader strategy to enforce tax compliance.
In a related development, it was reported last month by ProPakistani that the FBR is considering measures to limit taxpayers from withdrawing more than Rs. 30 million in cash annually. Additionally, individuals earning over Rs. 10 million will be restricted to purchasing cars only, and they must provide proof of income sources before buying property.
Those earning less than Rs. 10 million will need to justify their income before making any purchases of cars, plots, or investments in securities and mutual funds.
