Federal Board of Revenue has almost finalised its strategy to bring all sectors into the tax net but will not take any decision that would affect the industry and business of Pakistan. This has been pointed out by Chairman FBR Shabbar Zaidi during his press conference that he held here at the FBR House on Friday. FBR chairman said that FBR is aware of all those sectors where the menace of under-invoicing and over-invoicing is taking place.
"We are aware of these practices," he said, adding the FBR will take corrective measures. The FBR chairman said that this time the government has made all prior preparations for the documentation. "We have data of all sectors," he said, adding the FBR has a reliable data and will now bring them into the tax net. The FBR chairman said that the compliance in the sales tax is very low and now when the government has decided to document the economy, some people are trying to create confusion to resolve their own issues under the garb of these issues.
The objective of the taxation measures taken in the budget is to enhance the tax to GDP ratio, he said. FBR Member Inland Revenue Policy Dr Hamid Ateeq told reporters that all the measures taken in the budget are meant to document the economy. He said the government has already started implementation of the benami law. On average the concerned department is issuing notices to benamidars. "We will send around 50 notices per month and now focus will be the persons other than politicians," he said.
Comments
Comments are closed.