AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,596 Increased By 136 (0.53%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

The information of five to six million people, specifically non-filers of income tax returns, would be available on the web-portal of the Federal Board of Revenue (FBR) from Friday (today) and non-filers can have online access details of their assets to verify data compiled by the FBR from different authentic sources. This has been stated by FBR Member Inland Revenue Policy Hamid Atiq to the Senate Standing Committee on Finance here at Parliament House on Thursday during review of the Finance Bill 2019.
The FBR Member Inland Revenue Policy said that the FBR is going to give online access of information of assets available with its database to the concerned persons. The information of non-filers on its website on Friday (June 21) will contain data of assets in the name of non-filers and would be accessible by the concerned persons by using computerised national identity card (CNIC) numbers.
The FBR and the NADRA are finalising the arrangements in this regard. FBR Member Inland Revenue Policy Hamid Atiq told the Senate Standing Committee on Finance that the non-filers can now access details of assets in their names. However, information on the FBR website could only be accessed by the concerned persons giving their user names/CNIC, etc.
The FBR Member Inland Revenue Policy said that the FBR has estimated that 10 percent of the population is in a position to pay taxes. This means that around 7-8 million people would be able to pay taxes. The FBR is planning to double the number of non-filers from existing 2 million to 4 million. These 4 million persons should be solid filers and should pay at least some taxes along with their returns.
When committee members asked about the FRB capacity, the FBR Member said that the organisation has a workforce of 20,000 employees. "We have double revenue after every five years, but we are always in bad books of people," he added.
Chairman Senate Standing Committee on Finance Senator Farooq H Naek recommended the National Assembly to discontinue with the practice of the Federal Board of Revenue (FBR) for annually publishing Tax Directories particularly of parliamentarians. All committee members endorsed the viewpoint of Senator Naek and asked the NA to discontinue the said practice.
The issue came to the light when FBR Member Inland Revenue Policy Hamid Atiq stated that the FBR has overruled the secrecy laws to publish the tax directory. On this, the chairman Senate Standing Committee on Finance stated that tax directory should not be published by the FBR. "The publication of the tax directory is against the concept of the confidentially and privacy of the taxpayers. Therefore, this practice of publication should discontinue," Naek said.
However, those parliamentarians who are not paying any taxes should be highlighted, the chairman committee said. The senators were of the view that cases of kidnappings in the country have increased due to publication of the details including tax payments of the parliamentarians and taxpayers paying huge amounts of taxes. Even banking secrecy has been compromised.
Naek further said that even the secrecy of the accountholders available under the banking laws has been ended. Responding to this, the FBR Member said that the withholding tax information of non-filers has been obtained from the FBR. If the Swiss banks are ready to provide information to the FBR, the local banks have not objected in providing the information. The FBR and the banks have exchanged data and confidentiality of the accountholders has been secured. The FBR Member added that the FBR has obtained information of accountholders from 17 banks.

Copyright Business Recorder, 2019

Comments

Comments are closed.