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fbr--RECORDER REPORT

LAHORE: Federal Board of Revenue (FBR) Chairman Ali Arshad Hakeem said on Saturday that tax amnesty scheme will be presented in the National Assembly under which, a person can get a national tax number by depositing Rs 40,000.

 

However, from the next financial year the person getting national tax number under this amnesty scheme has to file his return regularly.

 

He said that the FBR had identified around 3.1 million such people who have travelled through air, keep more than one bank accounts and vehicles and those would be provided a chance to get themselves registered under the new tax amnesty scheme.

 

He warned that the computerized national identity cards of those who don’t pay their taxes on time would be blocked while their names would also be put on the Exit Control List (ECL).

 

He was talking to media persons after inaugurating new Customs House building in Lahore. Hakeem also attended a function arranged to mark the ‘International Customs Day.’

 

He said those identified would be given a 75 days time and after that, if not responded, their CNICs would be blocked and their names would be put on ECL, so they could not travel or operate their accounts.

 

FBR Chairman said that all the legislators pay tax on their salaries and also submit details of their other sources, if any, in their returns. He said we have a total population of 180 million but number of those who were paying taxes was very low. He also said that current revenue collection was not enough to run a big country like Pakistan.

 

Earlier, speaking at the function, Ali Arshad Hakeem said that the tax-to-GDP ratio has reached the level of 9.1 percent with great difficulty, adding taxation reforms are absolutely essential to increase the tax base.

 

He said that the FBR would make all out efforts to enhance tax base under the heads of corporate and under individuals.

 

He said that the existing tax base or tax to GDP ratio was not enough to run a big country like Pakistan. He also stressed the need for changes in the FBR. He also urged the customs officers to leave no stone unturned for stopping smugglings as this menace not only ruin the industry but also the national economy.

 

He said that the FBR had asked the government to provide more manpower for stopping the smuggling. He said FBR foundation was being made functional while promotions in the Board are also being made wherever they are due. He expressed the hope that tax collection target for the current fiscal would be achieved.

 

Senior Officers of the Federal Board of Revenue (FBR) both Inland Revenue Services and Customs attended the function.


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln