ISLAMABAD: The Federal Board of Revenue (FBR) has launched a massive recovery drive against tax defaulters in all major cities of the country.

Sources told Business Recorder that the FBR has taken the decision at the highest level to recover outstanding dues against the tax defaulters under the enforcement exercise of the FBR.

In this regard, the FBR has compiled a list of nearly 11,000 tax defaulters and communicated the names to the relevant tax jurisdictions and field offices for initiation of recovery proceedings under the relevant provisions of the law.

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The tax defaulters, belonging to the areas of Karachi, Lahore, Faisalabad, Rawalpindi, and Multan, included industrial units, factories/mills owners, wholesalers, property dealers and traders. The FBR will complete all legal formalities before taking extreme action like arrests of the tax defaulters and opportunity would be provided to respond to the notices served on them.

The FBR has already initiated recovery proceedings against super-rich people, who were reluctant to pay Capital Value Tax (CVT) to the tune of Rs3 billion on their foreign assets held abroad. The board has adopted coercive measures against these super-rich individuals who failed to pay CVT on foreign assets. The FBR has issued orders against 200 rich people after their failure to respond to repeated notices.

Copyright Business Recorder, 2023