ISLAMABAD/RAWALPINDI - Federal Board of Revenue (FBR) has given another one week period to the people to file their income tax returns by August 9, otherwise the government would take action against them. The government had already extended the last date several times for filing of tax returns to a maximum August 2. The government had also announced an assets declaration scheme to facilitate them to file their returns.
Now, the FBR has given another opportunity to the people to file their returns by August 9. An official of the FBR said that government is giving chances to people to come into tax net. He further said that government has the data of non-taxpayers. “We will take action against them after August 9,” he added.
Around 2.1 million people have filed their tax returns, which is the highest in the FBR’s history. FBR has projected a target to enhance these returns numbers to 4 million for the tax year 2019.
According to the officials, FBR has already compiled data of almost 8-10 million individuals who own a house larger than five hundred square yards or a vehicle over 1,000 cc and bank accounts across the country. The data will be used for issuance of notices in several phases.
The distribution companies have already been requested to identify such people and also requested to consumers for converting bills to actual users. It has been observed that several bills are being issued on the name of a single person.
Meanwhile, The proposed draft on fixed tax regime will be finalised after consultations with stakeholders and FBR doors are open for business community to address their grievances. The draft for small shopkeepers scheme under section 99B of the Income Tax Ordinance, 2001 has been released for views and comments.
This was stated by FBR Chairman Shabber Zaidi while talking to the delegation led by Rawalpindi Chamber of Commerce (RCCI) President Malik Shahid Saleem at FBR house Islamabad on Friday. The delegation includes Senior Vice President Muhammad Badar Haroon, Vice President Fayaz Qureshi, Group Leader Sohail Altaf, former presidents and member executive committee.
Chairman FBR Shabbar Zaidi said that the major aim of this draft was to seek proposals from stakeholders, Chamber of Commerce, Trade Associations as well as general public for any modification in the aforesaid scheme.
FBR believes in partnership with the business community. Increasing tax base and tax net has been on the FBR top priority. With due consultations with traders and business community amendments will be made to facilitate tax payers and we always welcome recommendations from the business community.
During the meeting, detail discussion was made on fixing retail price for auto parts, imposition of sales tax on size of the shop, issues pertaining to furniture industry, withdrawing paint industry from schedule III and proposed scheme for cottage industry. Consultations are being made with jewelers for data collection, taxes and collection of receipts and we are hopeful to finalise amendments at the earliest. He said without documentation of economy Pakistan can’t move forward.
RCCI President Malik Shahid Saleem, on this occasion, said that traders are not against the tax collection as we all have a common voice that harassing traders in the name of collecting taxes must be stopped. He said Government must adopt a comprehensive strategy in broadening the tax base and tax net rather burdening the existing taxpayers.
Traders are facing multiple challenges on proposed new tax regime and amendments made for documentation of the economy specially, imposition of sales tax at import stage, Retail Price and CNIC condition. RCCI President demanded that proposed draft on fixed tax regime must be finalised after consultations with business community.
We believed that every citizen had to play its role to improve the economic condition of the country, he added.