(24 News) Chairman FBR Rashid Mahmood Langriyal has bluntly announced that action will be taken against those who do not submit tax returns.
While holding a press conference with Finance Minister Muhammad Aurangzeb, Minister of State Ali Pervez Malik and Information Minister Atta Tarr, Chairman FBR Rashid Mahmood Langriyal said that we have given notices to 190 thousand people, 38 thousand people have filed 37 crore 7 million tax returns. Action will be taken against those who have not submitted the return and have not paid the tax.
Chairman FBR said that Pakistan’s tax gap is 7,100 billion rupees and income tax gap is 2,400 billion rupees, they are digitizing the invoicing process, the focus is on the top 5% people, they are directly looking at sugar mills. Several mills were caught on fake or flying invoices in Punjab.
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Finance Minister Muhammad Aurangzeb said that we have to fix the tax system on a permanent basis, there is a total additional tax potential of 71 billion rupees.
He said that technology is very important in tax collection, transparency has to be brought in the system to prevent tax evasion, human intervention in tax collection of FBR is being reduced.
Minister of State for Finance Ali Pervaiz Malik said in a press conference that we have to have a partnership with the IMF, we want standard economic growth, not the founder PTI.